SURFACE TRANSPORTATION BOARD ..-Sffile/33547.pdf · RECORDATION NO. 33547 FILED December 10, 2019...

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..-Sf BANK November 8, 2019 Chief, Section of Administration Office of Proceedings Surface Transportation Board ATTN: Documents for Recordation 395 E. Street, SW Washington, DC 20423-0001 Dear Secretary: I have enclosed an original and one copy of each of the document(s) described below to be recorded pursuant to Section 11303 of Title 49 of the U.S. Code. The documents are a Security Agreement dated November 8, 2019. The name and address of the parties to the 1 st Security Agreement covering Chattel Paper is further described as follows: Debtor: Secured Party: Trinity Chemical Industries, L.L.C. 4621 E 9I5 1 St Tulsa, OK 74137 Arvest Bank P. 0. Box 3007 Tulsa, OK 74101 A check is included for $102.00, which is $51.00 per each of the two filings. Please return the original recorded copy of each document and any extra copies not needed by the Board for recordation to: Arvest Bank, ATTN: Kurt Kazmierski, 4301 S Garnett Rd, Tulsa, OK 74146. A short summary of the document to appear in the index follows: A Security Agreement executed by and between Trinity Chemical Leasing, L.L.C. and Arvest Bank covering Equipment; and a Security Agreement covering Chattel Paper executed by and between Trinity Chemical Industries, L.L.C. and Arvest Bank. The equipment is 98 railroad tank cars as listed on page two (2) ofthis letter. RECORDATION NO. 33547 FILED December 10, 2019 3:44 PM SURFACE TRANSPORTATION BOARD

Transcript of SURFACE TRANSPORTATION BOARD ..-Sffile/33547.pdf · RECORDATION NO. 33547 FILED December 10, 2019...

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..-Sf BANK

November 8, 2019

Chief, Section of Administration Office of Proceedings Surface Transportation Board ATTN: Documents for Recordation 395 E. Street, SW Washington, DC 20423-0001

Dear Secretary:

I have enclosed an original and one copy of each of the document(s) described below to be recorded pursuant to Section 11303 of Title 49 of the U.S. Code.

The documents are a Security Agreement dated November 8, 2019. The name and address of the parties to the 1st Security Agreement covering Chattel Paper is further described as follows :

Debtor:

Secured Party:

Trinity Chemical Industries, L.L.C. 4621 E 9I51 St Tulsa, OK 74137

Arvest Bank P. 0. Box 3007 Tulsa, OK 74101

A check is included for $102.00, which is $51.00 per each of the two filings. Please return the original recorded copy of each document and any extra copies not needed by the Board for recordation to: Arvest Bank, ATTN: Kurt Kazmierski, 4301 S Garnett Rd, Tulsa, OK 74146. A short summary of the document to appear in the index follows:

A Security Agreement executed by and between Trinity Chemical Leasing, L.L.C. and Arvest Bank covering Equipment; and a Security Agreement covering Chattel Paper executed by and between Trinity Chemical Industries, L.L.C. and Arvest Bank. The equipment is 98 railroad tank cars as listed on page two (2) ofthis letter.

RECORDATION NO. 33547 FILED December 10, 2019 3:44 PM SURFACE TRANSPORTATION BOARD

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Page 2 Trinity Chemical Industries LLC

98 Trinity Coiled and Insulated Crude Oil Tank Cars located at 1401 Industrial Blvd, Eagle Pass, TX 78852, with the following marks:

CAR CAR CAR INITIALS CAR # IN ITIALS CAR # INITlALS CAR#

DPRX 256461 DPRX 257013 DPRX 257408

DPRX 256472 DPRX 257015 DPRX 258023

DPRX 256473 DPRX 257016 DPRX 257984

DPRX 256498 DPRX 25700 1 DPRX 258037

DPRX 256506 DPRX 257014 DPRX 25742 1

DPRX 256507 DPRX 256442 DPRX 257986

DPRX 2565 18 DPRX 257008 DPRX 257988

DPRX 526524 DPRX 257971 DPRX 257989

DPRX 256526 DPRX 257980 DPRX 258029

DPRX 256527 DPRX 257987 DPRX 258032

DPRX 256528 DPRX 258000 DPRX 257997

DPRX 256529 DPRX 258007 DPRX 258020

DPRX 25653 1 DPRX 258008 DPRX 257389

DPRX 256533 DPRX 258009 DPRX 257417

DPRX 256534 DPRX 258011 DPRX 257426

DPRX 256535 DPRX 258013 DPRX 257440

DPRX 256536 DPRX 25803 1 DPRX 257477

DPRX 256537 DPRX 258036 DPRX 258026

DPRX 256538 DPRX 258038 DPRX 258017

DPRX 256540 DPRX 257973 DPRX 258019

DPRX 256541 DPRX 258022 DPRX 258030

DPRX 256542 DPRX 257978 DPRX 257441

DPRX 256543 DPRX 257994 DPRX 257009

DPRX 256544 DPRX 257995 DPRX 257010

DPRX 256546 DPRX 257996 DPRX 2570 11

DPRX 256548 DPRX 258003 DPRX 257012

DPRX 256549 DPRX 258010

DPRX 257003 DPRX 258016

DPRX 257005 DPRX 2580 18

DPRX 256998 DPRX 257964

DPRX 256999 DPRX 257946

DPRX 257000 DPRX 257999

DPRX 257002 DPRX 258005

DPRX 257004 DPRX 258027

DPRX 257006 DPRX 257982

DPRX 257007 DPRX 2580 14

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Page 3 Trinity Chemical Industries, LLC

Thank you for your assistance.

Very T~ru~ly Y-o~rs,

: / Kurt Kazmier..s i Sr. Vice President

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SECURITY AGREEMENT

DATE AND PAR11ES. The date of this Security Agrwment (Agleement) Is November 8. 2019. The parties and their dddlesses aN:

SECURED PARTY: ARVESTBANK 4301 s. Garnett Rd. Tl.fta,OK 74146

DEBTOR: TRINITY CHWAL INDUSTRES, LL.C. an Oldahoma Umlled Uablllt.y Company P O BOX 701436 TULSA, OK 74170

Deftl1ltla11s. For the purposes of this document. the folowlng tsms have the follawlng meanings. "Loan" rer.s to this transaction garaally. Including obllptiOnS and duties arising from the twms of all clac:urMnts prepared or submitted for this transac:dan. The pronouns •you• and "your" rer« to the Secured Party. The pronouns "I," "me" and "my" refs to uch person or entity signing this A1,1N11nef1t es Debtor and agn.elng to give the Property descrlbad In this AgiNnWlt as security for 1he Sec:and Debts.

Where the owr.r of the Pn,perty is dJffenlnt from the obllgor or gua,antor whose obllgatlan this Agreenlll It seans. "Debtor" men ta NCh paROn or ntty who 1s an C11W1W or the Property and "Olllgar" or "Qaantor," as appllcable, Rlfs to such parties as designated In the SECURED DEBTS section.

1. SEClllED DEBTS. The term "Secured Debts" Includes and this AgraenB1l wtl sec:an each of the follawlng:

~=!:~debts and .. r-:S~~. =~~· madlftcatlaM , :rrrr·a~ (Obllgar) to JOU. In the 8fflCUlt I

a. Al Dabb. Al prasant and future debts from Obllgor ta you, evan If this ~ Is not speclflcally Alfelenc:ed, the bure debts .. also seand by otts collaUnl. 0, If the future debt Is urnlated to 0, of • dlff8iellt type thin this debt. If more than ane person sigrlS this Agi .... .., ach agrees that It wll saan debts lncaned eltta lndlvldully ar Wfth OChens who may nat sign thiS Ag,eement. NatHng In tills Agreement canstltutes a cammitrrmnt ta malce adcltlonal or f\mn loans or advances. Any such commitment m.lll be In writing. C. Swns Mvlnced. AD sums advanced and expenses lncumld by you under the terms of thlS ,........_

Loan Documents ref'el'" to al the documents execaltacl In C011a:dar'I Wfth the Seand Debts.

2. N(JN,.()8lJGA TED OWNER. Any one of us. who ts not also Identified as an Obllgor In the Seand Debts section of this As,eenient and who 5911 this Agrwient, Is marred to henlin es• NonoObUgltld OWner tar purposes of S&mSIICdon 7(d)(4) ~ 12 C.F.R. 1002 (Regulltlan B) which lmplemlnts the Equal Credit Opportunity Act (ECOA). By signing this As,eenwlt. I, as a Non-Obligated Owner, do grant 6 security interest. and assign my rights and int8raltS, In the Proparly to IIICID paylMllt of the SeClnd Debts. to create a valld llen. to pass clelr tide. to waivlt Inchoate rights and to assign _..ngs or rights to pay~ under any lease or rent of the Pruperty. Hew.lever, I, a • Non-Oblgated <>wrw, am not pssonaDy liable tar the Secured Debts.

3. SECURITY INTEREST. To secure the payment and performance of the Sac:urad Debts, I ~ you a secutty lnta'eSt In II of the Property described In this Agranent that I own or have sufftc:ient rights In which to transfs an Interest. now or In tha future, wtwe.- u. Property Is a, wll be locatad, and all praceecl• and praducts from tM Pruperty (lflcludlng. but not limltad to, all pans. acc:enortel. rapalrs, ~. Improvements. and accesslans ta the Prapert:y). Propa,ty Is all the c:allatlnl given n 98Cldy for the Seand Debts and dncrlbed In this Agreement, and Includes al obllgatlolis that suppa,t the Pll'in•lt or perfannance of the Property. "Proceeds" Includes cash proceeds, non-cash pror:eedS and anything acqulnld ..,an die sale, lease, llcense, exdlange. ar other dlspasltion of the Property; any rights and clalms anstng fram the Property; and any c:allectkJns and dJslrlbutlons an acc:aunt of the Property.

This Agraema,t remains In affect until tamlil lated In writing. even If the Secured Debts are paid and you are no longer obllgllt8d to advance fl.nts to me under any loan or credit ~ ·..m+

4. PROPERTY DESCRIPTION. The Property Is descrl>ed as raaaws: A. Speclllc Plaperly. Chattel Paper 1-..d t L .:'Ith ,by see ExNbllA.

5. WAIIAMl'ES AND REPRESENTATIONS. I make to you 1he foliawlng wanantlas and rep1.-1tatians WhlCh w11 cantna n long H tin .AQ,aemant Is 1ft effect:

A. ~. I am duly orpnaac:1. and valid)< md9tJng end In pod atandlng In el Jurl•dlctlon• In which I ~ I hwe the pow.- and aahaftty to antar" lnta this tranucdan and ta C1ffY an my business or activity as It Is 1111JW being cancb:ted and, as applicable, am quallfted ta do., In eechjwtsdictlon In whlctl I operate. 8. Aulharlty. The executlan, delivery and perfornauce of this Agrmffient and die Obllgatlon evidenced by this Agreemalll: se wtthln my powers, haft been dUly IUlhorlzcd, haV8 received all necessary governmental appraval. wll not violate any proviSiOn of law, or order of court a, governmental agency. and will not vlollte any 8IJ88ffl8flt to WhlCt1 I am a party ar to whtc:h I am or any ~ my poperty Is ~.

C. ,.._ and Location. My name Indicated In tha DATE AND PARTIES section Is my exact legal nmne. I am en entfty organized n raglstaiecl under the laws of Oldahama. I wll pnMde Wl('u'lcltlon of r'91b1tlon and 1ocat1on US*' ymr request. I WOI pn:wldll you Wlttl at least 30 days notice prior to any change In my name. address, o, st1111 of orgai ilZatlon or raglstratkln.

D, ....._. -. OU. than previously disclosed In writing to you I have not c:hang8CI my name or prlndpal place or business within the lat 10 years and have nat used any other trade or flcddaus name. Without rur prior wrtttan consent. I do not and wW not use any other name and wll preserve my existing name, trade,,.,.. and ft'Mdlf l 11

TRNTY CHEMCAL LEASING. U.C. oi.w-._..,AII_•• OICl411:aaad'lG00000000002027047N

RECORDATION NO. 33547 FILED December 10, 2019 3:44 PM SURFACE TRANSPORTATION BOARD

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E. o.wn.• of Pnaperty. I repiesent that I own Ill of the Property. Yow c:lalm to the Property IS ahead of the dalms of any ottwr c:rwdltar, except as dlsclosed In Mttlng to you prtar to any adYalice on the Seclnd Debts, The callatmral that Is the subject of the Chattel paper Is perfected and preserved.I represent that I am the ~ owra of the Property and. If I am not. that I tine provided you wl1h Inst ot prtor owners of the Property.

a. DUTIES TOWARD PROPERTY. A. PrOIICllan of Seand Party's lnllnlsl. I wtl defend the Property against any oths claim. I agree to do whatever you require to prol8Ct .YOU' semlly Interest and to keep your dllm In the Property ahead of the clalms of other cndtars. I wBI not do anything to harm yOAJt position. I wi1 keep books, records and accounts about the Property and my busfnass In general, I wlD let you 8XIIT*1e dele and make copies at any l'NSDf1llble time, I WID pnapere any nis-t 0tt accounting you request which deals with the Property, 8. Ute, Locallon. ... l'Nlldlan OI the Plaparty, I wtll keep the Praparty In my posseSlton and In good napmr. I wll use It only for cammmdal purposes. I wm not change thlS specified use without ~ prior written c:onsa,t, Yau hive the right of reasonable access to lnspeCt the Property and I wll lrnmedlatay Inform yau of any lou or damage to the Praperty. I wll not cause or permit wastB to the Praperty. I will keep the Property at my eddrels Usted In the DATE AND PARTIES section unlas we 19" I may ll8ep It at anodW locatlon. If the Praperty is to be used In oths states. I wll give you a 11st of those states. The tocadon of the Proparty ts given to aid In the ldendfk:lltian of the Property. It does not In arr, way Bmll the scape of the seculty lntanllt plbld to you. I wlD notify yau In writing and obtain yow prior wrttten consent to any change In loc:atlan of any of the Pruperty. I wm not use the Property In vlallldan of any law. I wtl notify you In writing prior to any change In my address, name ar, If an organization, any change In my Identity or strucbn. Untl the Secured Debts are t'uly paid and this ~ Is terminated, I wll not grant a sec:urtty lntaest In M1 of the Property without yow prtor wrlttlln consa,t. I will pay al taxes and euassmants levied or ........ against ma 06 the Property and provide timely proof of payment of these taxes and assessments upon niquast.

c. s.llng. ...... • EIICUIINlng 111e Ptopa,ty. I wll not sea, Offer to sell. lease. or othswlse transfer ar ena.mbs the Property without your prior writtan pamfsslon. Any dlspOSldon of the Property c:onbmy to this ~ wll VIOiate your r1ghtS. Yru pannlSSIOn to sell the Property may be reasonably wlthhlld wl1hout ,..ct to the cndtwo.thluess of any ba,yer or transferee. I wUI not permit the Property to be the ~ of eny CIOID't order affecting my rtghts to the Property In any acdon by anyone other than you. If the Property lnclud8S chattel paper ar lnsbumentS. elUllr as ortglnal c:ollatlrll or as pruceeds of the Praperty, I wll note your sa:wtty lnbnst on the face of the chattel paps or lnstnanents.

7. COUECTION RIGHTS OF THE SECURED PARTY, .Acccu1t Debtm' means the person whO ti Oblgabld an an accaunt. chattel paper, or general lntanglble. I authortza you to notify my Account Debtars of yow secur1ty hUrnt and to dell wfth the Account Debtors' Obllptbls at your dlscnltlon. Yau may enforce the obllgatlons of an Account Debtar, ... aslng any of my rights with respect to the Account Debtors' obllgltlons to make paynalt or othel wise rwldlr performlnce to .... lncludlng ttle enrorcemeut of any secur1ty lnbnSt that ...,. such abllgltlans. You may apply proceeds received tram the Account Debtar9 to the Sec:and Debts or you may tlllUS6 such procaeds to me. I specfflcally and lnwocably authar1z8 you to exerdse any of the fallowtng powers at my expense, wfthaut llmltlllOn, Wltll the Secured Debts .. paid In full:

A. demMd paymera and enforce collectlon from any Account Debtor or ObllgDr by SUit or athm wise.

a. enforce any securtty lnllnSt, lien or encunam glYer1 to teQl'ie the payment or pe,formanC8 of any ~ Debbr or any obllgation canstltUtlng Property. C. fie proofs of dalm or slnlar documents In the event of banlcruptcy, lnlOlvency or death of any psson obllgat8d n an .Account Debtor. D. compomlse, release, extend, or exchange any lndebbldness of an Acmunt o.btar. E. take control of any proceeds of the Account Debtars' obllgatlans and any natumm ar rapassessed goods. F. endorse all payments by any Account Debtor which may came Into your possession as payebla to me. G. dell In al raspacts as the holdlr and owrw of the Account Debtors' otJIIGltlans.

8. AUTHORITY TO PEAFOMt. I IIUlharlz8 yau to do anything you deem ntnOnlbly necessary to p,atect the Property, and perfect and contlrut yaur sacurtty lnter8lt In the Property. If I fall to perfann any of my dudes unds this Agl•ment or any other Loan Oocunent. you are autharlzed, without notice to me. to perform the ckJtles or c:al!8 them to be performed.

These authorizations Include. but .. not lmlted to, pennlmOn to: A. pay and discharge taxes, Dens, security Interests or other enc::umbrlnals at any time levied or plaCed on the Property. 8. pay any rents ar athllr c:hargll9 Ln1er any lease affecting the Property.

C. «mr and pay for the rapalr, maintenance end preservatlan of the Property. D. flle lll'J financing 1tatllmentS on my behalf and pay for filing and recording fees pertaining to the Property. E. place a note on any chattel paper Indicating yaur lntereSt In the Property. F. take any action you feel necessary to reelim an the Property, lnc:ludlng pafumdng any part of a contract or endorsing It lnmynmne. G. handle any SUlts ar otner proceedings lnvolvlng the Property In my name. H. prepare. 1'118, and 11Qr1 my name to any necessary nrpurtS or accountlngS.

I. make an entry on my books and records shl1w',ng the extstence or ttn Agreement.

J. notify any Acc:oln. Debtor or Obllgor of yaw Interest In the Property and tell the ~ Dabtar ar Obligor to make payments to you or someone else you name.

If you perfann f0tt me, you wll use reasonable care. If yau eurds6 the care and follow the procedLns that yau geraally apply to the callectlon of obllgatlans owed to you, you wlD be deemed to be using raasunabll care. Reasanable care wBI not Include: any steps necessary to presave rights against prior parties: the duty to sand natlces, pe,form ...... 0, tab any other action In c:armectian with the rnanagamm,t of the Praperty; or the duty to protact. p esa ve or maintain any sacurlty Interest given to au.rs by me or atber parties. Ycu auttatzatlon to perform for me wll not Cl1Nlte an obliglldon to psfarm and 'Yf'All fallunt to perform wll not predude you l'ram exercising any other rights ..... the law .. this Loan Agraa,ient. All cash and non-cash pi oceeds of the Property may be applied by you only upan ycu actual naipt of cash procwts against such of the Secured Dellts, mabnd 06 urunatured. as you delarmlne In 'J04lf sole dsueduo.

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If you came Into actual or constructive possession of the Pn>perty. you wiD presen,e and protect the Praperty. For purposes of this paragn1ph, you wll be In actual possession of the Property only when you have physical, lmmadlate and axclusfve cantrD1 over the Property and you hive affirm8thrllly accapted that contrDI. Vou wlD be In construc:tiva possasslcn of the Property only when you have both the powar and the lntmit to uarclse conU'OI Wei the Property.

9. DEFAULT. I w1D be In dataLA If any of the folowlng events (known separately and collectlvely as an Event of Dafaultl ocar.

A. Pa)il...._ I or ObllgDr fall to make a payment In tua when due.

8. IHIIIMIIICJ • lllr*rUpllcy. The death, dlssolution or Insolvency of. appointment of • nlC8iv8r by or an behalf of, appllc8tion of any debtor relief law, the assignment far the benefit of c:redltors by or on behalf' of, the valuntmy or Involuntary termination of existence by. or the commaicament of any proceeding under any present. or fubn federal or state insolvency, bar*ruptcy, rearganiutlon, composition or debtor relief law by or against me, Obllgar, or any co-signs, endorser, 5Ul'8ly or guarantor of 1h15 Ac,een'lent or any other oblgatlons Oblgor hlS with you. C. BulllleU Ta1H1111atlon. I merge, dissolve, niorganlzll. end my business or exlsteuce, Of a partner or majarity GWIW dies Of Is dedaed legdy Incompetent. D. f .... 1D Pa1'ann. I fall to perfOm1 any condition or ta kaep any promise or covenant of this A9 eenalL

E. OU. ~ A default occurs Infer the terms Of any otr.r Loan Documant.

F. Odis At,9&1W11ts. I am In default on any od1er debt« agreement I have with you. G. .....,........_ I malce any verbal or written statement or provide any flnandal Information that Is untrue. lnamnte, « conceals a material fact at the time It Is made or provided.

H. Ju111,mnt. I faB to satisfy or appeal any judgment against me. I. Forfalule. The Property is used In I manner or for a purpose that threatens conflSCation by a legal autharlly.

J. Name Change. I change my name or assume an lddltlonll name without notifying you before making such a Change.

K. ,n,p.ty T,_,., I transfer Ill or a substantlat part of my money or praperty. L Prap&'ty V..._ You determine In good faith that the value of the Property has decllnad Of Is Impaired.

M. Mmrllll a.nae. Wllhout first notifying you, ttlenl Is • rnaterlll CllangB In my bUslness, Inducing ownership, management, and flnanclal conditions, N. lnsec&dy. You d8termlnlt In good faith that a mar.mtal adverse change has amned In Borrows's flnandal candltlon from the conditions set fanh in Borrowar's mast recent financial itatalnent before the elate of this Agreement « that the prospect for payment or pstom,ance of the Secured Debts Is Impaired far any reason.

10. DUE ON SALE OR ENCUMIAMCE. You may, at yow optlan, _... the anclr8 balance al this Agraema1t to be Immediately due and payable upon the creation of, or coiitract for the aeatJon of, any 111n. erlCU'l'lbrlnce, transf• or Illa of al or any part of the Property. This right Is IUldeCt to the resa1ctlans Imposed by fadnl law, • appllcable.

11. AEMEDIES. Aftl!sl I default. you may at YfA11 option do any one or more of the followlng.

A. Ac:c-..atlon. You may make all ar any part of the 8fflCUll awing by the wms of the Securad Dellts Immediately dUe. B. Scuces. You may use any and al remedies you haw under state or federal law or In any Loan Document. c. Insurance ........ Yau may malca a dalm for any and al Insurance benefttS or rafUndl that may be available on my defadt. D. ,.,_. ... Macie On My Behalf. Amounts advanced on my behalf wlD be lmmedilltaly due and may be added to the Seand Debts. E. Aaemb1J ol Praplrty. You may requlnl me to gathllr the Praperty and make It avallable 1D you In a reasanabla fashion. F. Alp I s bn. You may repossess the Property so long n the repossession does not involv8 • breach of the peace. Yau may NII, lease or otherwise dispose of the Prapelly u provkled by law. You may apply wtllt you receive from the dlspositlon of the Property to yow expenses. ya.- attoineys' fees and 1ag11...- (where not prohlblbld by laW), and any debt I_. you. ~ to the NON-OBLIGATED OWNER aectlon, If wt.t you receive from the c119f1Nitlon of the Property does not satisfy the debt, I wll be llable for lhe deflcleucy (wtae peunlaad by IIW). In some cases, you may keep the Prape,ty to satisfy the debt. Wlwa a notice Is required, I agree that ten days prior written notlc:8 sent by first class maD to my address listed In this Agreemlllt wll be reasonable notlc:e to ma tnfm' the Oklahoma Uniform Connadal Code. If the Property Is plll1tihlble or ttnatans to dacll,w speedily In Vlllua, you may, without Mtlce tD ma. dispose of any or aa of the Praperty In a corrmardally reasonable manner at my expeuse following any cammeiclally raasonable prepndon Cl' pnx:esslng (where permitted by law).

If any Items not otherwise sul!jecl to this Agreen•it are contained In the Prapelly when you take possallan, you may hold these Items for ma at my rtsk and you WIii not be liable for taking posseslkln of them (wtwe permlttad by law).

G. Use and Oparallal1. You may enter upon my premises and tau pc:,sseslian of al cw any part of my property far Ille pwpose of preserving the Property or ltl value. sa long as you do not brNch the peace. You may use and opa'llbl my property for the length of time you feel Is necessary to protect yo&r Interest, all without paynmnt or c:ompansatlon to ma. H. WalNr. By ca-Ing •ny cna 0, - of these rwnedlos you dO not give up your right to UM any OU.- ....-d)t. Vou do not waive • dafault If yau chaose not to use • rmnedy. By electlnll not to .... any remedy, you do not waive your right to later coillidel the event• default and to use any 1enllldies if the default contiw or oc:an again.

12. WANER OF CLAIMS. I waive al claims for Ion or damage caused by YfAII acu or amtsslons wla'8 you acted reasGlllbly and In good faith.

13. PERFECTION OF SECURITY IN I EREST AND COSTS. I authorize you to Ille a financing stat8n18nt and/or security agieement. •• appropriate, covering the Property. I wll comply with, facllltlCe. and othelwtse assist you In c:annedlon with obtalr*1g perfection or control over the Property for purposes of perfecting JOI.I' S8Cla'lty lnta'aSt ..... the Unlfarm Comnadal Code. I agree to pay Ill tam, fees and costs you pay or Incur In c:awiectlon wttll PflPl(•l9, filing or recardlng any flnandng statements or GtlW' securtty Interest ftllngs on the Property. I ..,... to pay an actual c:osts of tam1111at111g JOII" securtty Interest.

14, APPUCAIL£ LAW, This AQreemellt Is governed by the laws of Oldahama. the United Stat.as of Amaica, and to the axtanl requlnld, by the laws of theJwtsdlctlon .... the Pl'aperty Is locatad. ucapt to the extant such state laws ... p!Nnipted by fed.-al laW. In the event of a dlspUte, the exclusive fonm, venue and place of jur1SdlctlOn WII be In Oldahama. Wlless otherwise raguinpd by law. TRNTY CttEMCAL LEASING, LLC. Oldllal,a Saady At,ww• o«141Ca!Wh DOOOOOCIOIC12027047N

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15. JOINT ANO SEVERAL UABIUTY AND SUCCESSORS. Each Debtor's obtlgatlons under Chis Agreement are lndepandenl or the olllgatlons of any other Debtoc'. You may sue each o.btor lndlvidually o, togettw' wtth any othet Debtor. You may release any pan of the Property and I wlff still be obllgated undef this Pqeement for the remaining Property. Debtor agrees that you and any pony to Ulls Agreement may extend, modify or make any change in the terms of this Agreement Of any evidence of debt without Debtor's consent. Such a change wtn not release Debtor rrom the terms of thi5 Agreement. If you assign any of the Seand Oebt5. you may imlgn all or any part or this ~ without notice to me or my consent, and this Agreement wlll lrue to the benefit or your assignee to the extent of such assignment. You Will continue to l'lave the unlmpalnld right to enforce this Agreement as to any of the Sea.nd Debts that are not assigned. This Agreement shall Inure to the benefit of and be enforceable by you and your successors and assigns and any oU18t person to whom you may grant an Interest In the Secured Debn and shll be binding upon and enforceable against me and my successon and assigns.

16. AMENDMENT, INTEGRATN>N AND SEVERABlUTY. Th~ Agreement may not be amended or mocllfl9d by oral agreement. No amendment or modification of this Agreement is effective unlen made In writing. This Ag:aement and the other Loan Documents are the complete and final expression of the undarstandlng between you and me. If any provision of this Agn,ement Is unenforceable, then tile unenfarceeble provision will be severed and tile remainlng provisions will still be enforceable.

17. INTERPRETATION. Whenever used, the singular lncludts the phnl and the plural Includes the singular. The section headings in for convenience only and are not to be used to Interpret or define tne terms of this Agreement.

18. NOTICE AND ADDITIONAL DOCUMENTS. Unless otherwise ,equtrecl by law, any notice WIii be given by dellvertng It or malling it by first c:lass mall to the appropriate psty's address listed In the DATE AND PARTIES section. or to any other address designated In writing. Notice to one Debtor wm be deemed to bl notice to all Debtors. I will inform you in writing of any change In my name, address or other application Information. I wW provide you any other. carrKt and complele informatlon you request to effectively grant a sec:wlty Interest on the Property. I agree to sign, deliver, and fie any additional documents or c:ertlflcatlons Ulat you may consider necessary to perfect. continue, and preserve my obligations under this Agreement and to confirm your llen status on any Property. Time Is of the essence.

SIGNATURES. By signing. I agree to the terms contained In this Agreement. I also acknowledge receipt of a capy of this Agreement.

DEBTOR:

TRINITY CHEMICAL LEASING. L.L : . OMallama Saciattr ....­OIC/4-i,act .. DIJOOOOOD002027C~ 7N woners ~ ,_. s.- =,aae. 2019 ~ s.,._ ..

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EXHIBIT "A"

LC>calcd al 1401 Industrial Blvd. 6qle PIN, TX 78!1~2

47 Trinity Coiled 1111d Insulated Crude 011 Tank Can1 with the followlng manc1:

I - -- -. - .. ~llah1 cart DPRX _ 257013

DPRX 256461 OPRX 257015 2S7016

DPRll 256472 DPRX. -- ..__ --------DPRX 256473 DPRX 2S7001

DPRX 256498 OPRX 257014

DPRX 256506 DPRX - - · 256442

DPRX 2S6S07 OPR)( - . . t·-2S7008

-·-DPRX 256518 ·-··- --- ·i·' - ·- . OPRX __ . 256524

__! __ _ __ _ __

OPRK --- .... 256526 - . ·~

..Qf!i~. . . 25~§~ DPRX 256528 ·-01-'RX · - _ 256529 DPRX - 256531 ~ --··-DPRX 256533

~L···--· 256534 OPRX .... 256535 -··· ... OPRX 2!~ DPRX 2S6S37 OPRX 256538

~- 256540 DPRX 256541

_l?PRX 256542 ,.QfM. _ __ 256543 .. -~-- ·· - . .. 256544

...Qf..~~ -··-- -- 256546

. .tll!B.!t _, - - ,. 2S6548 DPRX 256549

OPRX 257003 OPRX 257005

DPRJ< ---1~ OPRX 256999

~--'- • 257000

OPRX -· - - ~5700( DPRX 257004

QP~- -- 257006 OPRX 257007 --DPRX 257009 OPRX - - __ 257010

~ ·-··-·- 257011 DPRX 257012

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EXHIBIT "A" Located at 1401 Industrial Blvd. Eagle Pass, TX 78852 511"rlnlty Coiled & lnaul110(! Q-ude Oil Tank Can with Reporting Marks:

Car Initials Car# Car Initials Car# OPRX 2S7971 OPRX 257986 OPRX 257980 OPRX 257988 OPRX 257987 DPRX 257989 OPRX 258000 DPRX 258029 OPRX 258007 OPRX 258032 OPRX 258008 OPRX 257997 DPRX 258009 OPRX 258020 OPRX 258011 OPRX 257389 OPRX 258013 OPRX 257417 DPRX 258031 DPRX 257426 DPRX 258036 DPRX 257440 DPRX 258038 OPRX 257477 DPRX 257973 OPRX 258026 OPRX 258022 OPRX 257978 DPRX 257994 OPRX 257995 OPRX 257996 OPRX 258003 DPRX 258010 DPRX 258016 DPRX 258018 DPRX 257964 DPRX 257976 l>PRX 257999 DPRX 258005 DPRX 258027 DPR)( 257982

DPRX 258014 DPRX 258017 DPRX 258019 DPRX 258030 DPRX 257441 OPRX 257408 OPRX 258023 DPRX 257984 DPRX 258037 OPRX 257421