WHEN RECORDED OR FILED RETURN TO:
Thompson & Knight LLP
333 Clay Street, Suite 3300
Houston, Texas 77002
Attention: Susan M. Smith
DEED OF TRUST, MORTGAGE,
ASSIGNMENT, SECURITY AGREEMENT, FIXTURE FILING
AND FINANCING STATEMENT
FROM
ENERGYTEC, INC.,
Mortgagor and Debtor-in-Possession
Organizational I.D. No. C17483-1999
TO
CARLTON L. NICHOLS, TRUSTEE
AND
RED RIVER RESOURCES, INC., LENDER
Dated May 14, 2009
A CARBON, PHOTOGRAPHIC, FACSIMILE, OR OTHER REPRODUCTION OF THIS INSTRUMENT IS
SUFFICIENT AS A FINANCING STATEMENT.
THIS INSTRUMENT CONTAINS AFTER-ACQUIRED PROPERTY PROVISIONS, SECURES PAYMENT OF
FUTURE ADVANCES, AND COVERS PROCEEDS OF COLLATERAL.
THIS INSTRUMENT COVERS, AMONG OTHER THINGS, (A) GOODS WHICH ARE OR ARE TO BECOME
FIXTURES RELATED TO THE REAL PROPERTY DESCRIBED HEREIN, AND (B) AS-EXTRACTED
COLLATERAL RELATED TO THE REAL PROPERTY DESCRIBED HEREIN (INCLUDING WITHOUT
LIMITATION OIL, GAS, OTHER MINERALS AND OTHER SUBSTANCES OF VALUE WHICH MAY BE
EXTRACTED FROM THE EARTH AND ACCOUNTS ARISING OUT OF THE SALE AT THE WELLHEAD OR
MINEHEAD THEREOF).
THIS INSTRUMENT IS TO BE FILED FOR RECORD, AMONG OTHER
PLACES, IN THE REAL ESTATE OR COMPARABLE RECORDS OF THE COUNTIES REFERENCED IN
EXHIBIT A HERETO AND SUCH FILING SHALL SERVE, AMONG OTHER PURPOSES, AS A FIXTURE
FILING AND AS A FINANCING STATEMENT COVERING AS-EXTRACTED COLLATERAL.
THE
MORTGAGOR HAS AN INTEREST OF RECORD IN THE REAL ESTATE CONCERNED, WHICH INTEREST
IS DESCRIBED IN SECTION 1.1 OF THIS INSTRUMENT.
i
A POWER OF SALE HAS BEEN GRANTED IN THIS MORTGAGE.
AS PROVIDED BY APPLICABLE
LAW, A POWER OF SALE MAY ALLOW LENDER (AS HEREINAFTER DEFINED) OR THE TRUSTEE
(AS HEREINAFTER DEFINED) TO TAKE THE MORTGAGED PROPERTIES AND SELL THEM WITHOUT
GOING TO COURT IN A FORECLOSURE ACTION UPON DEFAULT BY THE MORTGAGOR (AS
HEREINAFTER DEFINED) UNDER THIS MORTGAGE.
THIS MORTGAGE IS ENTERED INTO PURSUANT TO THAT CERTAIN [INTERIM ORDER
AUTHORIZING DEBTOR TO INCUR POST-PETITION SECURED INDEBTEDNESS AND GRANTING
SECURITY INTERESTS AND SUPERPRIORITY CLAIMS] (THE "INTERIM BANKRUPTCY COURT
ORDER") ENTERED BY THE UNITED STATES BANKRUPTCY COURT FOR THE EASTERN DISTRICT
OF TEXAS (THE "BANKRUPTCY COURT") IN MORTGAGOR'S BANKRUPTCY CASE FILED UNDER
CASE NO. _________.
THIS DOCUMENT PREPARED BY:
Robert C. Shearer
Thompson & Knight LLP
333 Clay Street, Suite 3300
Houston, Texas 77002
(713) 951-5896
ii
DEED OF TRUST, MORTGAGE
ASSIGNMENT, SECURITY AGREEMENT, FIXTURE FILING
AND FINANCING STATEMENT
(this "Mortgage")
ARTICLE I.
GRANTING CLAUSES; SECURED INDEBTEDNESS
Section 1.1.
Grant and Mortgage. Energytec, Inc., a Nevada
corporation, as Mortgagor and debtor-in-possession (herein called "Mortgagor"),
pursuant to the Interim Bankruptcy Court Order, for and in consideration of the
sum of Ten Dollars ($10.00) to Mortgagor in hand paid, and in order to secure
the payment of the secured indebtedness hereinafter referred to and the
performance of the obligations, covenants, agreements, warranties and
undertakings of Mortgagor hereinafter described, does hereby GRANT, BARGAIN,
SELL, CONVEY, TRANSFER, ASSIGN AND SET OVER to Carlton L. Nichols, whose address
for notice is set forth at the end of this Mortgage (the "Trustee"), and grants
to Trustee a POWER OF SALE (pursuant to this Mortgage and applicable law) with
respect to all