Document:

Exhibit 1050

		

			Exhibit 10.50

		

		
			Recording requested by and 
		

		
			when recorded deliver to:
		

		
			Latham & Watkins LLP
355 S. Grand Avenue, Suite 100
		

		
			Los Angeles, California 90071-1560
Attn:  Kim N. A. Boras, Esq.

		

		
			NOTICE OF CONFIDENTIALITY RIGHTS:  IF YOU ARE A NATURAL PERSON, YOU MAY REMOVE OR STRIKE ANY OR ALL OF THE FOLLOWING INFORMATION FROM ANY INSTRUMENT THAT TRANSFERS AN INTEREST IN REAL PROPERTY BEFORE IT IS FILED FOR RECORD IN THE PUBLIC RECORDS:  YOUR SOCIAL SECURITY NUMBER OR YOUR DRIVER’S LICENSE NUMBER.
		

		
			SECOND LIEN DEED OF TRUST, ASSIGNMENT OF LEASES AND RENTS, SECURITY AGREEMENT AND FIXTURE FILING STATEMENT
		

		
			by and from Green Plains Hereford LLC, a Delaware limited liability company, “Grantor”
		

		
			to Stanley E. Keeton, “Trustee”
		

		
			for the benefit of BNP PARIBAS,
in its capacity as Pari Passu Agent, “Beneficiary”
		

		
			Dated as of April 5, 2018
		

		
			Location:4300 County Road 8
Municipality:Hereford
County:Deaf Smith
State:Texas
		

		
			Legal Description:See Exhibit A attached.
		

		
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			This deed of trust contains after-acquired property provisions and constitutes a fixture financing statement under the Uniform Commercial Code of the State of Texas.
		

		
			NOTICE:  This deed of trust secures credit in an amount not to exceed $1,700,000,000.00.  Loans and advances up to this amount, together with interest, are senior to indebtedness to other creditors under subsequently recorded or filed trust deeds and liens.  
		

		
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		SECOND LIEN DEED OF TRUST, ASSIGNMENT OF LEASES AND RENTS, SECURITY AGREEMENT AND FIXTURE FILING STATEMENT
		

		
			THIS SECOND LIEN DEED OF TRUST, ASSIGNMENT OF LEASES AND RENTS, SECURITY AGREEMENT AND FIXTURE FILING STATEMENT (this “Deed of Trust”) is made as of April 5, 2018 by and among Green Plains Hereford LLC, a Delaware limited liability company (together with its successors and permitted assigns, “Grantor”), having an address at 1811 Aksarben Drive, Omaha, NE  68106, to Stanley E. Keeton, an individual (“Trustee”), having an address at Fidelity National Title Insurance Company, 10010 San Pedro, Suite 630, San Antonio, Texas 78212, for the benefit of BNP PARIBAS (“BNPP”), as Pari Passu Agent (as hereinafter defined), having an address at 787 Seventh Avenue, New York, New York  10019 (BNPP, in such capacity, together with its successors and assigns, “Beneficiary”).
		

		
			RECITALS
		

		
			A.BNPP is party to that certain Term Loan Intercreditor and Collateral Agency Agreement, dated as of August 29, 2017 (as it may be amended, restated, supplemented, replaced or otherwise modified from time to time the “Term Loan Intercreditor Agreement”), by and among BNPP in its capacity as collateral agent for the holders of the Term Loan Obligations (as defined therein) (BNPP and its successors and assigns in such capacity being hereinafter referred to as “Term Loan Agent”), BNPP in its capacity as collateral agent for the holders of the ABL Obligations (such holders collectively referred to herein as the “ABL Claimholders” and each, individually, as a “ABL Claimholder”) (BNPP and its successors and assigns in such capacity being hereinafter referred to as “Pari Passu Agent”), BANK OF THE WEST and ING CAPITAL LLC, as joint administrative agent for the holders of the ABL-Cattle Obligations (as defined therein) (together with their respective successors and assigns in such capacity being hereinafter referred to as “ABL-Cattle Agent”), BNPP in its capacity as collateral agent for the holders of the ABL-Grain Obligations (as defined therein) (together with its successors and assigns in such capacity being hereinafter referred to as “ABL-Grain Agent”), and PNC BANK, NATIONAL ASSOCIATION, as agent for the holders of the ABL-Trade Obligations (as defined therein) (together with its successors and assigns in such capacity being hereinafter referred to as “ABL-Trade Agent”), and acknowledged and agreed to by GREEN PLAINS INC., a Delaware corporation (the “Company”) and the other New Grantors (as defined therein).  Any capitalized term used in this Deed of Trust that is not otherwise defined herein, either directly or by reference to another document, shall have the meaning for purposes of this Deed of Trust as it is given in the Term Loan Intercreditor Agreement.
		

		
			B.Grantor is one of the New Grantors under the Term Loan Agreement and has entered into a Guaranty in favor of ABL-Cattle Agent, a Guaranty in favor of ABL-Grain Agent and a Guaranty in favor of ABL-Trade Agent, each dated as of August 29, 2017, guaranteeing the ABL-Cattle Obligations, the ABL-Grain Obligations and the ABL-Trade Obligations, respectively (collectively, the “Guaranteed Obligations”).
		

		
			C.Pursuant to the Term Loan Intercreditor Agreement, Grantor executes and delivers this Deed of Trust to secure the Guaranteed Obligations on a pari passu basis  (collectively the “Obligations Secured”).
		

		

		

		 

		

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		D.Pursuant to the Term Loan Intercreditor Agreement, this Deed of Trust, in second lien and security interest status, will be and remain subject, junior and subordinate to that certain First Lien Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing Statement, dated as of the date hereof, made by Grantor to Fidelity National Title Insurance Company, as trustee, for the benefit of Term Loan Agent (as it may hereafter be amended, restated, supplemented, renewed, consolidated, extended, substituted, replaced or otherwise modified from time to time, the “First Lien Deed of Trust”), and the First Lien Deed of Trust shall be prior and superior to this Deed of Trust.
		

		
			DEFINITIONS
		

		
			Environmental Law means all Federal, state or local laws, statutes, rules, regulations, ordinances, codes and common laws, together with all administrative orders, licenses, authorizations and permits of, and written agreements with, any Governmental Authorities, in each case relating to pollution or protection of health or environmental media (i.e. air, soil, sediments, land surface, natural resources, and water), including (i) such laws relating to any actual or threatened release, manufacture, processing, distribution, use, treatment, storage, disposal, transport, or handling of any Hazardous Materials and (ii) the Comprehensive Environmental Response, Compensation and Liability Act of 1980, the Clean Air Act, the Federal Water Pollution Control Act of 1972, the Solid Waste Disposal Act, the Federal Resource Conservation and Recovery Act, the Toxic Substances Control Act, the Emergency Planning and Community Right-to-Know Act, together with any amendments or reauthorizations thereto or thereof, and any and all regulations promulgated thereunder, and all analogous state and local counterparts or equivalents.
		

		
			Event of Default means any “Event of Default” under any ABL Loan Document.
		

		
			Hazardous Material means all substances and wastes defined pursuant to any Environmental Law as hazardous, toxic, corrosive, flammable, explosive, carcinogenic, mutagenic, infectious, radioactive, or pollutants, including petroleum or any fraction thereof, petroleum distillates, asbestos or asbestos containing materials, polychlorinated biphenyls, radon gas and infectious or medical wastes and all other substances or wastes of a similar nature.
		

		
			Permitted Liens means “Permitted Liens,” “Permitted Encumbrances” or similar terms as defined in the ABL Loan Documents and for avoidance of doubt, any Lien in favor of the Term Loan Collateral Agent to secure Term Loan Obligations under the Term Loan Documents.
		

			
	
			
				Article 1
			
GRANT

			
	
			
				 Section 1.1
			Grant

		
			.  NOW, THEREFORE, in consideration of (A) Ten Dollars ($10.00) in hand paid, the receipt and sufficiency of which are hereby acknowledged, and (B) the foregoing Recitals, for the purpose of securing the complete and timely performance and payment of all present and future indebtedness, liabilities and obligations which the Grantor has from time to time incurred or may incur or be liable to the ABL Claimholders and the Pari Passu Agent (each, a “Secured Party”, collectively, the “Secured Parties”) under or in connection with the Obligations Secured, THE 
		

		 

		

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		GRANTOR HEREBY CONVEYS TO TRUSTEE AND HEREBY GRANTS, ASSIGNS, TRANSFERS AND SETS OVER TO TRUSTEE, IN TRUST WITH POWER OF SALE FOR THE USE AND BENEFIT OF PARI PASSU AGENT, AND GRANTS PARI PASSU AGENT (for the benefit of the Secured Parties) A SECURITY INTEREST IN the real estate legally described in Exhibit A hereto (the “Land”) in Deaf Smith County (the “County”), Texas (the “State”); together (i) with all right, title and interest, if any, that the Grantor may now have or hereafter acquire in and to all improvements, buildings and structures of every nature whatsoever now or hereafter located on the Land (the “Improvements”); and (ii) all air rights, water rights and powers, development rights or credits, zoning rights or other similar rights or interests that benefit or are appurtenant to the Land (all of the foregoing, including the Land, the “Premises”);
		

		
			TOGETHER WITH all right, title and interest, if any, including any after-acquired right, title and interest, and including any right of use or occupancy, that the Grantor may now have or hereafter acquire in and to any of the following related to the Land:  (a) all easements, rights of way or gores of land or any lands occupied by streets, ways, alleys, passages, sewer rights, water courses and public places, and any other interests in property constituting appurtenances to the Premises, or that hereafter shall in any way belong, relate or be appurtenant thereto; (b) all licenses, authorizations, certificates, variances, consents, approvals and other permits now or hereafter relating to the Real Property (as defined below), excluding any of the foregoing items that cannot be transferred or encumbered by the Grantor without causing a default thereunder or a termination thereof; (c) all hereditaments, gas, oil and minerals (with the right to extract, sever and remove such gas, oil and minerals) located in, on or under the Premises; (d) all split or division rights with respect to the Land and easements of every nature whatsoever; and (e) all other rights and privileges thereunto belonging or appertaining and all extensions, additions, improvements, betterments, renewals, substitutions and replacements to or of any of the rights and interests described in clauses (a), (b), (c) and (d) above (all of the foregoing, the “Property Rights”);
		

		
			TOGETHER WITH all right, title and interest, if any, including any after-acquired right, title and interest, and including any right of use or occupancy, that the Grantor may now possess or hereafter acquire in and to all fixtures and appurtenances of every nature whatsoever now or hereafter located in or on, or attached to, or used or intended to be used in connection with (or with the operation of), the Premises, including (a) all apparatus, machinery and equipment of the Grantor (to the extent that any of the foregoing constitute “fixtures” under applicable law); and (b) all extensions, additions, improvements, betterments, renewals, substitutions and replacements to or of any of the foregoing (all items listed in the foregoing clauses (a) and (b), the “Fixtures”).  Grantor and Pari Passu Agent agree that the Premises and all of the Property Rights and Fixtures owned by the Grantor (collectively the “Real Property”) shall, so far as permitted by law, be deemed to form a part and parcel of the Land and for the purpose of this Deed of Trust to be real estate and covered by this Deed of Trust; and
		

		
			TOGETHER WITH all the estate, right, title and interest, if any, of the Grantor in and to (i) all judgments, insurance proceeds, awards of damages and settlements resulting from condemnation proceedings or the taking of the Real Property, or any part thereof, under the power of eminent domain or for any damage (whether caused by such taking or otherwise) to the Real Property, or any part thereof, or to any rights appurtenant thereto, and all proceeds of any sale or other disposition of the Real Property or any part thereof (it being understood that, except as 
		

		 

		

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		otherwise provided herein or in the Term Loan Intercreditor Agreement, the Grantor is hereby authorized to collect and receive such awards and proceeds and to give proper receipts and acquittance therefor, and to apply the same as provided herein); (ii) all contract rights, general intangibles, actions and rights in action relating to the Real Property, including all rights to insurance proceeds and unearned premiums arising from or relating to damage to the Real Property; (iii) all plans and specifications, designs, drawings and other information, materials and matters heretofore or hereafter prepared relating to the Real Property; and (iv) all proceeds, products, replacements, additions, substitutions, renewals and accessions of and to the Real Property (the rights and interests described in this paragraph, the “Intangibles”).
		

		
			Pursuant to, and to the extent permitted by, the Texas Assignment of Rents Act (Sections 64.011, et seq., of the Texas Property Code) (“TARA”), the Grantor (i) pledges and assigns to the Pari Passu Agent from and after the date of the effectiveness hereof (including any period of redemption), primarily and on a parity with the Real Property, and not secondarily, all rents, issues and profits of the Real Property and all rents, issues, profits, revenues, royalties, bonuses, rights and benefits due, payable or accruing (including all deposits of money as advance rent, for security, as earnest money or as down payment for the purchase of all or any part of the Real Property) under any and all present and future leases, contracts or other agreements relative to the ownership or occupancy of all or any portion of the Real Property (all of the foregoing, the “Rents”), and (ii) except to the extent such a transfer or assignment is not permitted by the terms of any leases, contracts or other agreements, transfers and assigns to Pari Passu Agent all such leases, contracts and agreements (including all the Grantor’s rights under any contract for the sale of any portion of the Mortgaged Property and all revenues and royalties under any oil, gas and mineral lease relating to the Real Property) (collectively the “Leases”); provided however, that so long as no Event of Default has occurred and is continuing, a license is hereby given to Grantor to collect and use such Rents.
		

		
			All of the property described above, including the Land, the Premises, the Property Rights, the Fixtures, the Real Property, the Intangibles, the Rents and the Leases, is called the “Mortgaged Property”).
		

		
			Notwithstanding the foregoing or any other provision of this Mortgage including, without limitation, Section 2.1 of this Mortgage, the Mortgaged Property does not include any movable personal property or movable contents owned by Mortgagor and located within the Improvements which would be insurable as “contents” pursuant to Section III. Property Covered: Coverage B – Personal Property of the General Property Form, Standard Flood Insurance Policy issued by the United States Federal Emergency Agency National Flood Insurance Program.
		

		
			Nothing herein contained shall be construed as constituting the Pari Passu Agent a mortgagee-in­possession in the absence of the taking of title and/or possession of the Mortgaged Property by the Pari Passu Agent.  Nothing contained in this Deed of Trust shall be construed as imposing on the Pari Passu Agent any obligation of any lessor under any Lease of the Mortgaged Property in the absence of an explicit assumption thereof by the Pari Passu Agent.  In the exercise of the powers herein granted the Pari Passu Agent, prior to Pari Passu Agent taking title to or possession of the Mortgaged Property, no liability shall be asserted or enforced against the Pari Passu Agent, all such liability being expressly waived and released by the Grantor, except for any 
		

		 

		

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		such liability arising on account of the Pari Passu Agent’s gross negligence or willful misconduct, as determined by a court of competent jurisdiction in a final, non-appealable order.
		

		
			TO HAVE AND TO HOLD the Mortgaged Property, and all other properties, rights and privileges hereby conveyed or assigned, or intended so to be, unto the Trustee and the Pari Passu Agent, their respective beneficiaries, successors and assigns, forever for the uses and purposes herein set forth.  Except to the extent such a release or waiver is not permitted by applicable law, the Grantor hereby releases and waives all rights of redemption or reinstatement, if any, under and by virtue of any of the laws of the State, and the Grantor hereby covenants, represents and warrants that, at the time of the execution and delivery of this Deed of Trust, (a) the Grantor has good and marketable fee simple title to the Mortgaged Property, with lawful authority to grant, remise, release, alien, convey, mortgage and warrant the Mortgaged Property, (b) the title to the Mortgaged Property is free and clear of all encumbrances, except the Permitted Liens and (c) except for the Permitted Liens, the Grantor will forever defend the Mortgaged Property against all claims in derogation of the foregoing.
		

			
	
			
				Article 2
			
SECURITY AGREEMENT AND FINANCING STATEMENT

			
	
			
				 Section 2.1
			Security Agreement

		
			.  The Pari Passu Agent and the Grantor further agree that if any of the property herein mortgaged is of a nature so that a security interest therein can be created and perfected under the Uniform Commercial Code in effect in the State (the “Code”), this Deed of Trust shall constitute a security agreement, fixture filing and financing statement, and for that purpose, the following information is set forth:
		

			
	
			
				 (a)
			In addition to the foregoing grant of mortgage, the Grantor hereby grants a continuing second priority security interest to the Pari Passu Agent for the benefit of the Secured Parties in that portion of the Mortgaged Property in which the creation and/or perfection of a security interest is governed by the Code.

			
	
			
				 (b)
			The “Debtor” is the Grantor and the “Secured Party” is the Pari Passu Agent for the benefit of itself and the other Secured Parties.

			
	
			
				 (c)
			The name and address of the Debtor are as set forth in the Preamble to this document.

			
	
			
				 (d)
			The name and address of the Secured Party are as set forth in the Preamble to this document.

			
	
			
				 (e)
			The description of the types or items of property covered by this financing statement is:  All of the Mortgaged Property in which a security interest may be perfected pursuant to the Code.

			
	
			
				 (f)
			The description of the real estate to which collateral is attached or upon which collateral is located is set forth on Exhibit A.

		 

		

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				 (g)
			The Pari Passu Agent may file this Deed of Trust, or a reproduction hereof, in the real estate records or other appropriate index, as a financing statement for any of the items specified herein as part of the Mortgaged Property.  Any reproduction of this Deed of Trust or of any other security agreement or financing statement is sufficient as a financing statement.

			
	
			
				 (h)
			The Grantor authorizes the Pari Passu Agent to file any financing statement, continuation statement or other instrument that the Pari Passu Agent or the ABL Controlling Agent may reasonably deem necessary or appropriate from time to time to perfect or continue the security interest granted above under the Code.

			
	
			
				 Section 2.2
			Fixture Filing

		
			.  To the extent permitted by law, (i) all of the Fixtures are or are to become fixtures on the Land, and (ii) this instrument, upon recording or registration in the real estate records of the proper office, shall constitute a “fixture-filing” within the meaning of Sections 9-604 and 9-502 of the Code as in effect on the date hereof.  Subject to the terms and conditions of the Term Loan Intercreditor Agreement, the remedies for any violation of the covenants, terms and conditions of the agreements herein contained shall be as prescribed herein, in the ABL Loan Documents, or by general law, or, as to that part of the security in which a security interest may be perfected under the Code, by the specific statutory consequences now or hereafter enacted and specified in the Code, all at the election of the ABL Controlling Agent.
		

			
	
			
				Article 3
			
WARRANTIES, REPRESENTATIONS, and COVENANTS

		
			Grantor warrants, represents, and covenants to Beneficiary and the ABL Claimholders as follows:
		

			
	
			
				 Section 3.1
			Second Lien Status

		
			.  Grantor shall preserve and protect the second priority lien of this Deed of Trust.  If any lien or security interest other than a Permitted Lien is asserted against the Mortgaged Property, Grantor shall promptly, and at its expense, (a) give Beneficiary a detailed written notice of such lien or security interest (including origin, amount and other terms), and (b)(i) pay the underlying claim in full or take such other action so as to cause it to be released or (ii) contest the same in compliance with the requirements of the ABL Loan Documents (including, if applicable, any requirement to provide a bond or other security satisfactory to Beneficiary).
		

			
	
			
				 Section 3.2
			Payment of Taxes on this Deed of Trust

		
			.  Without limiting any provision of the ABL Loan Documents, the Grantor agrees that, if the government of the United States or any department, agency or bureau thereof or if the State or any of its subdivisions having jurisdiction shall at any time require documentary stamps to be affixed to this Deed of Trust or shall levy, assess or charge any tax, assessment or imposition upon this Deed of Trust or the credit or indebtedness secured hereby or the interest of any Secured Party in the Premises or upon any Secured Party by reason of or as holder of any of  the foregoing then, the Grantor shall pay for such documentary stamps in the required amount and deliver them to the Pari Passu Agent or pay (or reimburse the Pari Passu Agent for) such taxes, assessments or 
		

		 

		

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		impositions.  The Grantor agrees to provide to the Pari Passu Agent, at any time upon request, official receipts showing payment of all taxes, assessments and charges that the Grantor is required or elects to pay under this Section.  The Grantor agrees to indemnify each Secured Party against liability on account of such documentary stamps, taxes, assessments or impositions, whether such liability arises before or after payment of the Obligations Secured and regardless of whether this Deed of Trust shall have been released.
		

			
	
			
				 Section 3.3
			Leases Affecting the Real Property

		
			.  All future lessees under any Lease made after the date of recording of this Deed of Trust shall, at the direction of the ABL Controlling Agent (or at the Pari Passu Agent’s option) and without any further documentation, attorn to the Pari Passu Agent as lessor if for any reason the Pari Passu Agent becomes lessor thereunder, and, upon demand after an Event of Default has occurred and is continuing, pay rent to the Pari Passu Agent, and the Pari Passu Agent shall not be responsible under such Lease for matters arising prior to the Pari Passu Agent becoming lessor thereunder; provided that the Pari Passu Agent shall not become lessor or obligated as lessor under any such Leases unless and until it shall have been directed by the ABL Controlling Agent to do so, or it shall elect in writing to do so.
		

			
	
			
				 Section 3.4
			Use of the Real Property

		
			.  The Grantor agrees that it shall not (a) permit the public to use any portion of the Real Property in any manner that could reasonably be expected to impair the Grantor’s title to such property, or to make possible any claim of easement  by prescription or of implied dedication to public use, provided Grantor has actual knowledge of such use; (b) institute or acquiesce in any proceeding to change the zoning classification of the Real Property, nor shall the Grantor change the use of the Mortgaged Property in any material way, without the consent of the ABL Controlling Agent, which consent shall not be unreasonably withheld; and (c) permit any material legal or economic waste to occur with respect to the Mortgaged Property.
		

			
	
			
				 Section 3.5
			Insurance

		
			.  Subject to the Term Loan Intercreditor Agreement, the Grantor shall:
		

		
			(a)At its sole expense, obtain for, deliver to, assign to and maintain for the benefit of the Pari Passu Agent, until the Obligations Secured are paid in full, (i) insurance upon the Mortgaged Property, in such form, written by such companies, for such periods, and against such risks and in amounts customarily insured against or carried by corporations engaged in the same or substantially similar business and similarly situated, with provisions reasonably satisfactory to the Pari Passu Agent for payment of all losses under applicable policies to the Pari Passu Agent (including a lender loss payee endorsement in favor of the Pari Passu Agent); (ii) liability insurance (including an endorsement naming the Pari Passu Agent as an additional insured), written by such companies, for such periods, and against such risks and in amounts customarily insured against or carried by corporations engaged in the same or substantially similar business and similarly situated; and (iii) with respect to each Mortgaged Property that is located in an area identified by the Federal Emergency Management Agency (or any successor agency) as a “special flood hazard area” with respect to which flood insurance has been made available under Flood Insurance Laws, 
		

		 

		

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		flood insurance in such reasonable total amount as the Pari Passu Agent may from time to time reasonably require, and otherwise sufficient to comply with all applicable rules and regulations promulgated pursuant to applicable flood insurance laws, from a financially sound and reputable insurance companies (except to the extent that any insurance company insuring the Mortgaged Property of the Grantor ceases to be financially sound and reputable, in which case, the Grantor shall promptly replace such insurance company with a financially sound and reputable insurance company), and, if required by the Pari Passu Agent, deposit copies of such policies with the Pari Passu Agent; and use commercially reasonable efforts to cause each policy of insurance to provide for no less than 10 days’ prior written notice to the Pari Passu Agent of cancellation of a policy due to non-payment of a premium and no less than 30 days’ prior written notice to the Pari Passu Agent of cancellation for any other reason.  Prior to an Event of Default, use of insurance proceeds shall be governed by the Term Loan Intercreditor Agreement.  If an Event of Default exists and is continuing, and the Pari Passu Agent has given notice to the Grantor that the Pari Passu Agent intends to exercise its rights under this Section 3.5, then, subject to the Term Loan Intercreditor Agreement, the Pari Passu Agent shall be entitled to (a) adjust any casualty loss and (b) apply the proceeds thereof as provided in Section 4.2 of this Mortgage.  
		

		
			(b)Maintain and preserve all property that is used or useful in its business in good working order and condition, ordinary wear and tear excepted, and make all necessary repairs thereto and renewals and replacements thereof.
		

			
	
			
				 Section 3.6
			Real Property Taxes

		
			.  The Grantor covenants and agrees to pay before delinquent all real property taxes, assessments, ground rent, if any, water and sewer rents, fees and charges, levies, permit, inspection and license fees and other dues, charges or impositions, including all charges and license fees for the use of vaults, chutes and similar areas adjoining the Land, maintenance and similar charges and charges for utility services, in each instance whether now or in the future, directly or indirectly, levied, assessed or imposed on the Premises or the Grantor and whether levied, assessed or imposed as excise, privilege or property taxes; provided that the foregoing shall not require the Grantor to pay any of the foregoing so long as it shall contest the validity thereof in good faith by appropriate proceedings and shall set aside on its books adequate reserves with respect thereto in accordance with GAAP and so long as neither the Mortgaged Property nor any part thereof or interest therein shall be in reasonable danger of being sold, forfeited, terminated, cancelled or lost.
		

			
	
			
				 Section 3.7
			Condemnation Awards

		
			.  Subject to the terms of the Term Loan Intercreditor Agreement, the Grantor assigns to the Pari Passu Agent, as additional security, all awards of damage resulting from condemnation proceedings or the taking of or injury to the Real Property for public use “Eminent Domain Proceedings”).  If an Event of Default exists and is continuing and the Pari Passu Agent has given notice to the Grantor that the Pari Passu Agent intends to exercise its rights under this Section 3.7, then, subject to the terms of the Term Loan Intercreditor Agreement, the Pari Passu Agent shall be entitled to (a) participate in and/or direct (at the sole discretion of the ABL Controlling Agent) any Eminent Domain Proceedings and (b) apply the proceeds thereof as provided in Section 4.2 of this Deed of Trust.
		

		 

		

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				Article 4
			
DEFAULT AND FORECLOSURE

			
	
			
				 Section 4.1
			Remedies

		
			.  Subject to the provisions of the ABL Loan Documents and the Term Loan Intercreditor Agreement, upon the occurrence and during the continuance of an Event of Default, including a failure to perform or observe any of the covenants set forth in this Deed of Trust that is not cured within any applicable cure period, in addition to any rights and remedies provided for in the ABL Loan Documents, if and to the extent permitted by applicable law, the following provisions shall apply:
		

			
	
			
				 (a)
			Power of Sale.  Pari Passu Agent may direct Trustee to exercise Trustee’s power of sale with respect to the Mortgaged Property, or any part thereof, in a non-judicial procedure as permitted by applicable law.  In such case, any such sale (including notice thereof) shall comply with the applicable requirements, at the time of sale, of Section 51.002 of the Texas Property Code or, if and to the extent such statute is not then in full force and effect, with the applicable requirements, at the time of sale, of the successor statute or statutes, if any, governing sales of Texas real property under power of sale conferred by a deed of trust.

		
			Trustee shall deliver to the purchaser at the sale, within a reasonable time after the sale, a Trustee’s deed conveying the Mortgaged Property so sold without any covenant or warranty, express or implied.  The recitals in Trustee’s deed shall be prima facie evidence of the truth of the statements made therein and conclusive evidence thereof in favor of bona fide purchasers and encumbrancers for value and without notice.  Grantor has the right to bring an action to assert the non-existence of an Event of Default or any other defense of Grantor to acceleration and sale.
		

			
	
			
				 (b)
			Pari Passu Agent’s Power of Enforcement.  The Pari Passu Agent may immediately foreclose this Deed of Trust by judicial action.  The court in which any proceeding is pending for the purpose of foreclosure of this Deed of Trust by judicial procedure or in connection with the exercise of any non-judicial power of sale by the Trustee may, at once or at any time thereafter, either before or after sale, without notice and without requiring bond, and without regard to the solvency or insolvency of any person liable for payment of the Obligations Secured, and without regard to the then value of the Mortgaged Property or the occupancy thereof as a homestead, appoint a receiver (the provisions for the appointment of a receiver and assignment of rents being an express condition upon which the loans and other financial accommodations hereby secured are made) for the benefit of the Secured Parties, with power to collect the Rents, due and to become due, during such foreclosure suit and the full statutory period of redemption notwithstanding any redemption.  The receiver, out of the Rents when collected, may pay reasonable costs incurred in the management and operation of the Real Property, prior and subordinate liens, if any, and taxes, assessments, water and other utilities and insurance, then due or thereafter accruing, and may make and pay for any necessary repairs to the Real Property, and may pay any part of the Obligations Secured in accordance with the ABL Loan Documents (subject to the Term Loan Intercreditor Agreement) or any deficiency decree entered in such foreclosure proceeding.  Upon or at any time after the filing of a suit to foreclose this Deed of Trust, the court in which such suit is filed shall have full power to enter an order placing the Pari Passu Agent in 
		

		 

		

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			possession of the Real Property with the same power granted to a receiver pursuant to this clause (a) and with all other rights and privileges of a mortgagee-in-possession under applicable law.

			
	
			
				 (c)
			Pari Passu Agent’s Right to Enter and Take Possession, Operate and Apply Income.  The Pari Passu Agent shall, at the direction of the ABL Controlling Agent or at its option, have the right, acting through its agents or attorneys or a receiver, with process of law, to enter upon and take possession of the Real Property, to expel and remove any persons, goods or chattels occupying or upon the same, to collect or receive all the Rents, to manage and control the Real Property, to lease the Real Property or any part thereof, from time to time, and, after deducting all reasonable attorneys’ fees and expenses of outside counsel, and all reasonable expenses incurred in the protection, care, maintenance, management and operation of the Real Property, to distribute and apply the remaining net income in such order and to such of the Obligations Secured in accordance with the ABL Loan Documents (subject to the Term Loan Intercreditor Agreement) or any deficiency decree entered in any foreclosure proceeding.

			
	
			
				 (d)
			Foreclosure as Mortgage.  This instrument shall be effective as a mortgage as well as a deed of trust and upon the occurrence of an Event of Default may be foreclosed as to any of the Real Property in any manner permitted by the laws of the State and any foreclosure suit may be brought by the Trustee or by the Pari Passu Agent.

			
	
			
				 (e)
			Grantor, on its own behalf and on behalf of each party hereto, hereby requests a copy of any notice of default and a copy of any notice of sale hereunder be mailed to them at the applicable address provided in the first paragraph of this Deed of Trust.

			
	
			
				 Section 4.2
			Application of Rents or Proceeds from Foreclosure or Sale

		
			.  Subject to the requirements of applicable law, the proceeds or avails of any trustee or foreclosure sale and all moneys received by Pari Passu Agent pursuant to any right given or action taken under the provisions of this Deed of Trust shall be applied as follows:
		

			
	
			
				 (a)
			To the payment of the costs and expenses of any such sale or other enforcement proceedings in accordance with the terms hereof and of any judicial proceeding wherein the same may be made (including payment of the Trustee’s fees, attorneys’ fees and costs of title evidence), and in addition thereto, reasonable compensation to Pari Passu Agent, its agents and counsel, and all actual out of pocket expenses, advances, liabilities and sums made or furnished or incurred by Trustee, Pari Passu Agent or ABL Controlling Agent under this Deed of Trust and the ABL Loan Documents, together with interest at the maximum rate permitted by law, and all taxes, assessments or other charges, except any taxes, assessments or other charges subject to which the Mortgaged Property shall have been sold;

			
	
			
				 (b)
			In accordance with the applicable provisions of the ABL Loan Documents, subject to the Intercreditor Agreements;

			
	
			
				 (c)
			To the payment of any other sums required to be paid by Grantor pursuant to  any provision of this Deed of Trust, or any of the ABL Loan Documents; and

			
	
			
				 (d)
			To the payment of the surplus, if any, to whomsoever may be lawfully entitled to receive the same.

		

		

		 

		

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		The Grantor shall remain liable for any deficiency to the extent provided in the documents that create the Obligations Secured.
		

			
	
			
				 Section 4.3
			Cumulative Remedies; Delay or Omission Not a Waiver

		
			.  No remedy or right of the Pari Passu Agent shall be exclusive of, but shall be in addition to, every other remedy or right now or hereafter existing at  law or in equity.  No delay in the exercise or omission to exercise any remedy or right available during the existence of any Event of Default shall impair any  such remedy or right or be construed to be a waiver of such Event of Default or acquiescence therein, nor shall it affect any subsequent Event of Default of the same or different nature.  To the extent permitted by applicable law, every such remedy or right may be exercised concurrently or independently and when and as often as may be deemed expedient by the Pari Passu Agent.
		

			
	
			
				 Section 4.4
			Pari Passu Agent’s Remedies against Multiple Parcels

		
			.  If more than one property,  lot or parcel is covered by this Deed of Trust, and this Deed of Trust is foreclosed upon or judgment is entered upon any Obligations Secured, (or, in the case of a trustee’s sale, shall  have  met  the statutory requirements thereof with respect to such collateral), execution may be made upon any one or more of the properties, lots or parcels and not upon the others, or upon all of such properties or parcels, either together or  separately, and at different times or at the same time, and execution sales or sales by advertisement may likewise be conducted separately or concurrently, in each case at the election of the ABL Controlling Agent.
		

			
	
			
				 Section 4.5
			No Merger

		
			.  In the event of a foreclosure of this Deed of Trust or any other mortgage or trust deed securing the Obligations Secured, the Obligations Secured then due shall, at the option of the ABL Controlling Agent, not be merged into any decree of foreclosure entered by the court, and the Trustee or Pari Passu Agent may concurrently or subsequently seek to foreclose one or more mortgages or deeds of trust that also secure the Obligations Secured.
		

			
	
			
				Article 5
			
MISCELLANEOUS

			
	
			
				 Section 5.1
			Notices

		
			.  All notices and other communications hereunder shall be in writing and shall be given in the manner, within the time periods and to the applicable address identified in the Term Loan Intercreditor Agreement.
		

			
	
			
				 Section 5.2
			Governing Law

		
			.  This Deed of Trust shall be construed, governed and enforced in accordance with the laws of the State.  Wherever possible, each provision of this Deed of Trust shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Deed of Trust shall be prohibited by or invalid under applicable law, such provision shall be effective only 
		

		 

		

			12

		

 

		

			 

		

		to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of this Deed of Trust.
		

			
	
			
				 Section 5.3
			Satisfaction of Deed of Trust

		
			.  Upon full payment and performance of all the Obligations Secured, or upon satisfaction of the conditions set forth in the Term Loan Intercreditor Agreement for release of the Mortgaged Property from this Deed of Trust, then the Pari Passu Agent shall, promptly upon request of the Grantor, request the Trustee to reconvey the Mortgaged Property and shall surrender this Deed of Trust and evidence of satisfaction of the Obligations Secured to the Trustee.  Trustee shall reconvey the Mortgaged Property without warranty to the person or persons legally entitled thereto.
		

			
	
			
				 Section 5.4
			Successors and Assigns Included in Parties; Third Party Beneficiaries

		
			.  This Deed of Trust shall be binding upon the parties hereto and upon the successors, assigns and vendees of the Grantor and shall inure to the benefit of the parties hereto and their respective successors and assigns; all references herein to the Grantor and to the Pari Passu Agent shall be deemed to include their respective successors and assigns.  The Grantor’s successors and assigns shall include, without limitation, a receiver, trustee or debtor in possession of or for the Grantor. Wherever used herein, the singular number shall include the plural, the plural shall include the singular, and the use of any gender shall be applicable to all genders. The Secured Parties shall be third party beneficiaries of the Grantor’s representations, warranties, covenants and agreements hereunder.
		

			
	
			
				 Section 5.5
			WAIVER OF APPRAISEMENT, VALUATION, STAY, EXTENSION, AND REDEMPTION LAWS

		
			.  The Grantor agrees, to the full extent permitted by law, that neither the Grantor nor anyone claiming through or under it shall set up, claim or seek to take advantage of any appraisement, valuation, stay, homestead or extension law, whether now or hereafter in force, in order to prevent or hinder the enforcement or foreclosure of this Deed of Trust or the absolute sale of the Mortgaged Property or the final and absolute putting into possession thereof, immediately after such sale, of the purchaser thereof; and the Grantor, for itself and all who may at any time claim through or under it, hereby waives, to the full extent that it may lawfully so do, the benefit of all such laws and any right to have the assets comprising the Mortgaged Property marshaled upon any foreclosure of the encumbrance hereof and agrees that the Pari Passu Agent or any court having jurisdiction to foreclose such encumbrance may sell the Mortgaged Property in part or as an entirety.  To the fullest extent permitted by law, the Grantor irrevocably waives all statutory or other rights of redemption from sale under any order or decree of foreclosure of this Deed of Trust, on its own behalf and on behalf of each and every person acquiring any interest in or title to the Mortgaged Property subsequent to the date hereof.  The Grantor further waives, to the fullest extent it may lawfully do so, all statutory and other rights in its favor, limiting concurrent actions to foreclose this Deed of Trust and the exercise of other rights with respect to the Obligations Secured, including any right vested in the Grantor or any affiliate to limit the right of the Pari Passu Agent to pursue or commence concurrent actions against the Grantor or any such affiliate or any property owned by any one or more of them.  Grantor further waives, to the extent permitted by 
		

		 

		

			13

		

 

		

			 

		

		applicable law, all errors and imperfections in any proceedings instituted by Pari Passu Agent or Trustee under this Deed of Trust and all notices of any Event of Default (except as may be provided for under the terms of this Deed of Trust) or of Pari Passu Agent’s or Trustee’s election to exercise or its actual exercise of any right, remedy or recourse provided for under this Deed of Trust.
		

			
	
			
				 Section 5.6
			Interpretation with Other Documents

		
			.  Notwithstanding anything in this Deed of Trust to the contrary, in the event of a conflict or inconsistency between this Deed of Trust and the Term Loan Intercreditor Agreement, the provisions of the Term Loan Intercreditor Agreement will govern.  To the extent any provision of this Deed of Trust specifies performance according to standards established by the Term Loan Intercreditor Agreement, then such specification shall mean the performance that would be required by the Borrower were the Borrower the owner of the Mortgaged Property and the Grantor hereunder.  Notwithstanding anything to the contrary contained herein, the lien and security interest granted to Beneficiary pursuant to this Deed of Trust and the exercise of any right or remedy by Beneficiary hereunder are subject to the provisions of the Term Loan Intercreditor Agreement.  In the event of any conflict or inconsistency between the terms and provisions of the Term Loan Intercreditor Agreement and the terms and provisions of this Deed of Trust, the terms and provisions of the Term Loan Intercreditor Agreement shall govern and control.
		

			
	
			
				 Section 5.7
			Future Advances

		
			.  Any and all future advances (subject to the limitations on the principal amount of Obligations Secured elsewhere contained in this Deed of Trust) under this Deed of Trust and the ABL Loan Documents shall have the same priority as if the future advance was made on the date that this Deed of Trust was recorded. This Deed of Trust shall secure the Obligations Secured, whenever incurred, such Obligations Secured to be due at the times provided in the ABL Loan Documents. Notice is hereby given that the Obligations Secured may increase as a result of any defaults hereunder by Grantor due to, for example, and without limitation, unpaid interest or late charges, unpaid taxes or insurance premiums which the Pari Passu Agent elects to advance, defaults under leases that the Pari Passu Agent elects to cure, attorney fees or costs incurred in enforcing the ABL Loan Documents or other expenses incurred by the Pari Passu Agent in protecting the Collateral, the security of this Deed of Trust or the Pari Passu Agent’s rights and interests.
		

			
	
			
				 Section 5.8
			Changes

		
			.  Neither this Deed of Trust nor any term hereof may be changed, waived, discharged or terminated orally, or by any action or inaction, but only by an instrument in writing signed by the party against which enforcement of the change, waiver, discharge or termination is sought.  To the extent permitted by law, any agreement hereafter made by the Grantor and the Pari Passu Agent relating to this Deed of Trust shall be superior to the rights of the holder of any intervening lien or encumbrance.
		

			
	
			
				 Section 5.9
			CONSENT TO JURISDICTION; WAIVER OF IMMUNITIES

		
			.
		

		 

		

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				 (a)
			The Grantor irrevocably (i) submits to the jurisdiction of any state or federal court sitting in the State, or in such other location as may be specified in the Term Loan Intercreditor Agreement, in any action or proceeding arising out of or relating to this Deed of Trust, and the Grantor hereby irrevocably agrees that all claims in respect of such action or proceeding may be heard and determined in any state or federal court sitting in the State or in such other location as may be specified in the Term Loan Intercreditor Agreement. 

			
	
			
				 (b)
			The provisions of the Term Loan Intercreditor Agreement contained in Sections 8.7 and 8.8 thereof are hereby incorporated by reference as if set out in their entirety in this Deed of Trust.

			
	
			
				 (c)
			To the extent that the Grantor has or hereafter may acquire any immunity from the jurisdiction of any court or from any legal process (whether through service or notice, attachment prior to judgment, attachment in aid of execution, execution or otherwise) with respect to itself or its property, the Grantor hereby irrevocably waives, to the fullest extent it may effectively do so under applicable law, such immunity in respect of its obligations under this Deed of Trust.

			
	
			
				 (d)
			Grantor waives, to the fullest extent it may effectively do so, the defense of an inconvenient forum to the maintenance of any such action or proceeding; consents to service of process in any such action or proceeding by the mailing of a copy of such process to the Grantor as set forth in Section 5.1 hereof; and agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law.

			
	
			
				 (e)
			Nothing in this Section shall affect the right of the Pari Passu Agent to serve legal process in any other manner permitted by law or affect the right of the Pari Passu Agent to bring any action or proceeding against the Grantor or its property in the courts of any other jurisdiction.

			
	
			
				 Section 5.10
			Time of Essence

		
			. Time is of the essence with respect to the provisions of this Deed of Trust.
		

			
	
			
				 Section 5.11
			No Strict Construction

		
			.  The parties hereto have participated jointly in the negotiation and drafting of this Deed of Trust.  In the event an ambiguity or question of intent or interpretation arises, this Deed of Trust shall be construed as if drafted jointly by the parties hereto and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provision of this Deed of Trust.
		

			
	
			
				 Section 5.12
			Pari Passu Agent’s Right to Appear

		
			. After the occurrence of an Event of Default, or in any situation where the Pari Passu Agent or the ABL Controlling Agent reasonably determines that the Grantor’s action is not protective of the interest of the Pari Passu Agent in the Mortgaged Property, Pari Passu Agent shall have the right to appear in and defend any legal proceeding brought regarding the Mortgaged Property and 
		

		 

		

			15

		

 

		

			 

		

		to bring any legal proceeding, in the name and on behalf of the Grantor or in the Pari Passu Agent’s name, that the ABL Controlling Agent, in its sole discretion, determine is necessary to be brought to protect the Secured Parties’  interest in the Mortgaged Property, as long as Pari Passu Agent provided Grantor fifteen (15) days prior written notice of its intent to bring such proceeding, except in the event of an emergency, in which case no prior notice shall be required (but Pari Passu Agent shall promptly thereafter notify Grantor of the bringing of such proceeding).  Nothing herein is intended to prohibit Grantor from bringing or defending any suit relating to the Mortgaged Property.
		

			
	
			
				 Section 5.13
			No Liability of Secured Parties

		
			. Notwithstanding anything to the contrary contained in this Deed of Trust, this Deed of Trust is only intended as security for the Obligations Secured and the Secured Parties shall not be obligated to perform or discharge, and do not hereby undertake to perform or discharge, any obligation, duty or liability of the Grantor with respect to any of the Mortgaged Property.  Unless and until a Secured Party takes title or possession of the Mortgaged Property, either through foreclosure, the taking of a deed in lieu thereof or otherwise, no Secured Party shall be responsible or liable for the control, care, management or repair of the Mortgaged Property or for any negligence in the management, operation, upkeep, repair or control of the Mortgaged Property resulting in loss or injury or death to any licensee, employee, tenant or stranger or other person.  The Grantor agrees to indemnify and hold harmless the Secured Parties from and against all loss, cost and liability incurred by the Grantor in connection with any of the foregoing that are not the responsibility of the Secured Parties in accordance with this Section; provided that the Grantor shall not be liable for such indemnification to any Secured Party to the extent that resulting from such Secured Party’s gross negligence or willful misconduct, as determined by a court of competent jurisdiction in a final, non-appealable order.
		

			
	
			
				 Section 5.14
			Indemnity

		
			.  Grantor unconditionally agrees to forever indemnify, defend and hold harmless, and covenants not to sue for any claim for contribution against, each Secured Party and their respective directors, officers, employees, trustees, agents, financial advisors, consultants, affiliates and controlling persons (each such person, an “Indemnitee”) for any damages, costs, loss or expense, including response, remedial or removal costs and all fees and disbursements of counsel for any such Indemnitee, arising out of any of the following:  (i) any presence, release, threatened release or disposal of any Hazardous Material by Grantor or any subsidiary of Grantor or otherwise occurring on or with respect to the Mortgaged Property, (ii) the operation or violation of any Environmental Law by Grantor or any subsidiary of Grantor or otherwise occurring on or with respect to the Mortgaged Property, (iii) any claim for personal injury, property damage related to Grantor or any subsidiary of Grantor or otherwise occurring on or with respect to the Mortgaged Property, (iv) any claim for actual or threatened injury to, destruction of or loss of natural resources in connection with Grantor or any subsidiary of Grantor or otherwise occurring on or with respect to the Mortgaged Property and (v) the inaccuracy or breach of any environmental representation, warranty or covenant by Grantor  made herein or in any of the ABL Loan Documents evidencing or securing any obligation  under the ABL Loan Documents or setting forth terms and conditions applicable thereto or otherwise relating thereto.  The foregoing indemnity shall survive the 
		

		 

		

			16

		

 

		

			 

		

		termination of this Deed of Trust and shall remain in force beyond the expiration of any applicable statute of limitations and payment or satisfaction in full of any single claim thereunder.
		

			
	
			
				 Section 5.15
			Variable Interest Rate

		
			.  The Obligations Secured include obligations that bear interest at rates that vary from time to time, as provided in the ABL Loan Documents and the other documents relating to the Obligations Secured.
		

			
	
			
				 Section 5.16
			Statutory Notice

		
			.  IMPORTANT:  READ BEFORE SIGNING.  THE TERMS OF THIS DEED OF TRUST SHOULD BE READ CAREFULLY BECAUSE ONLY THOSE TERMS IN WRITING ARE ENFORCEABLE.  NO OTHER TERMS OR ORAL PROMISES NOT CONTAINED IN THIS DEED OF TRUST MAY BE LEGALLY ENFORCED.  YOU MAY CHANGE THE TERMS OF THIS DEED OF TRUST ONLY BY ANOTHER WRITTEN AGREEMENT.  THIS NOTICE IS ALSO EFFECTIVE WITH RESPECT TO ALL OTHER CREDIT AGREEMENTS BETWEEN THE PARTIES HERETO.
		

			
	
			
				 Section 5.17
			Limitation of Liability

		
			.  Notwithstanding any other provision of this Deed of Trust or any of the ABL Loan Documents, the liability of the Grantor hereunder shall not exceed the maximum amount of liability that the Grantor can incur without rendering this Deed of Trust void or voidable under any applicable law relating to fraudulent conveyance or fraudulent transfer, and not for any greater amount (and, to the extent necessary to comply with the foregoing under any applicable law, the Obligations Secured shall be reduced to such maximum amount).
		

			
	
			
				 Section 5.18
			Second Lien Status

		
			.    Notwithstanding anything herein to the contrary, the lien and security interest granted to or for the benefit of Beneficiary under this Deed of Trust and the exercise of any right or remedy by or for the benefit of Beneficiary hereunder are subject to the provisions of the Term Loan Intercreditor Agreement.  In the event of any conflict between the terms of the Term Loan Intercreditor Agreement and this Deed of Trust, the terms of the Term Loan Intercreditor Agreement shall govern and control.  Any reference in this Deed of Trust to “second priority lien” or words of similar effect in describing the security interests created hereunder shall be understood to refer to such priority as set forth in the Term Loan Intercreditor Agreement.  All representations, warranties, and covenants in this Deed of Trust shall be subject to the provisions and qualifications set forth in this Section 5.18.
		

			
	
			
				Article 6
			
trustee PROVISIONS

			
	
			
				 Section 6.1
			Liability of Trustee

		
			.  Trustee shall not be liable for any error of judgment or act done by Trustee in good faith, or be otherwise responsible or accountable under any circumstances whatsoever, except for 
		

		 

		

			17

		

 

		

			 

		

		Trustee’s gross negligence or willful misconduct.  Trustee shall not be personally liable in case of entry by him, or anyone entering by virtue of the powers herein granted him, upon the Mortgaged Property for debts contracted or liability or damages incurred in the management or operation of the Mortgaged Property.  Trustee shall have the right to rely on any instrument, document or signature authorizing or supporting any action taken or proposed to be taken by him hereunder, believed by him in good faith to be genuine.  Trustee shall be entitled to reimbursement for expenses incurred by him in the performance of his duties hereunder and to reasonable compensation for such of his services hereunder as shall be rendered.  Grantor will, from time to time, pay the compensation due to Trustee hereunder and reimburse Trustee for, and save him harmless against, any and all liability and expenses which may be incurred by him in the performance of his duties.
		

			
	
			
				 Section 6.2
			Retention of Money

		
			.  All moneys received by Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were received, but need not be segregated in any manner from any other moneys (except to the extent required by law), and Trustee shall be under no liability for interest on any moneys received hereunder.
		

			
	
			
				 Section 6.3
			Successor Trustees

		
			.  Trustee may resign by the giving of notice of such resignation in writing to Pari Passu Agent. If Trustee shall die, resign or become disqualified from acting in the execution of this trust or shall fail or refuse to execute the same when requested by Pari Passu Agent so to do, or if, for any reason, Pari Passu Agent shall prefer to appoint a substitute trustee to act instead of the forenamed Trustee, Pari Passu Agent shall have full power to appoint a substitute trustee and, if preferred, several substitute trustees in succession who shall succeed to all the estate, rights, powers and duties of the forenamed Trustee.  Pari Passu Agent may, from time to time, by a written instrument executed and acknowledged by Pari Passu Agent, mailed to Grantor and recorded in the County in which the Real Property is located and by otherwise complying with the provisions of the applicable law of the State, substitute a successor or successors to the Trustee named herein or acting hereunder.
		

			
	
			
				 Section 6.4
			Perfection of Appointment

		
			.  Any new Trustee appointed pursuant to any of the provisions hereof shall, without any further act, deed or conveyance, become vested with all the estate, properties, rights, powers and trusts of its, her or his predecessor in the rights hereunder with like effect as if originally named as Trustee herein; but nevertheless, upon the written request of Pari Passu Agent or of the successor Trustee, the Trustee ceasing to act shall execute and deliver an instrument transferring to such successor Trustee, upon the trusts herein expressed, all the estates, properties, rights, powers and trusts of the Trustee so ceasing to act, and shall duly assign, transfer and deliver any of the property and moneys held by such Trustee to the successor Trustee so appointed in its, her or his place.
		

			
	
			
				Article 7
			
LOCAL LAW PROVISIONS

			
	
			
				 Section 7.1
			Modification to Beneficiary’s Form

		

		

		 

		

			18

		

 

		

			 

		

		. Beneficiary, by acceptance of this Deed of Trust (as evidenced by the recordation of this Deed of Trust in the Official Public Records of Deaf Smith County, Texas), acknowledges, understands and agrees that Husch Blackwell, LLP (“HB”) was requested on behalf of the Grantor to modify this Deed of Trust in order to cause the same to be compliant and congruent with Texas law and custom, respectively (hereinafter referred to as “Texas Compliance”).  HB has revised Beneficiary’s form only with respect to the issue of Texas Compliance.  HB did not review the form of the Deed of Trust for any other matter or issue nor make any modifications on behalf of Beneficiary.  HB and its attorneys did not research or examine title to the property on behalf of Beneficiary, and HB makes no representation or warranty about the condition of title, access to the property, or any other matter that might be revealed by an examination of a survey, title commitment, or the property itself.  Beneficiary has the right to be represented by its own attorney and to have its attorney review this Deed of Trust, as so modified, for its purpose.
		

			
	
			
				 Section 7.2
			TARA

		
			. Notwithstanding anything to the contrary in this Deed of Trust, TARA will govern enforcement of the assignment of rents, the application of proceeds, and the turnover of rents to Beneficiary under this Deed of Trust.
		

			
	
			
				 Section 7.3
			Borrower’s Indemnity; Express Negligence Doctrine

		
			. Borrower acknowledges that the release and indemnity provision provided for the benefit of Beneficiary in Section 5.14 of this Deed of Trust will apply even if and when the subject matter of the indemnity or release arises out of or results from the negligence or strict liability of Lender, but will not apply to the extent caused by the gross negligence or willful misconduct of Lender.
		

			
	
			
				 Section 7.4
			Usury Savings Clause

		
			.  Grantor and Beneficiary intend to contract in strict compliance with applicable usury law from time to time in effect. In furtherance thereof, none of the terms and provisions contained in this Deed of Trust shall ever be construed to create a contract to pay (for the use, forbearance, or detention of money) interest in excess of the maximum amount of interest permitted to be charged by applicable law from time to time.
		

			
	
			
				 Section 7.5
			Collateral Protection Insurance Notice

		
			.  TEXAS FINANCE CODE SECTION 307.052 COLLATERAL PROTECTION INSURANCE NOTICE:  (1) BORROWER IS REQUIRED TO (A) KEEP THE MORTGAGED PROPERTY INSURED AGAINST DAMAGE IN THE AMOUNT LENDER SPECIFIES, (B) PURCHASE THE INSURANCE FROM AN INSURER THAT IS AUTHORIZED TO DO BUSINESS IN THE STATE OF TEXAS OR AN ELIGIBLE SURPLUS LINES INSURER, AND (C) NAME LENDER AS THE PERSON TO BE PAID UNDER THE POLICY IN THE EVENT OF A LOSS; (2) BORROWER MUST, IF REQUIRED BY LENDER, DELIVER TO LENDER A COPY OF THE POLICY AND PROOF OF THE PAYMENT OF PREMIUMS; AND (3) IF BORROWER FAILS TO MEET ANY REQUIREMENT LISTED IN CLAUSE (1) OR (2), LENDER MAY OBTAIN COLLATERAL PROTECTION INSURANCE ON BEHALF OF BORROWER AT 
		

		 

		

			19

		

 

		

			 

		

		BORROWER’S EXPENSE.  THE PROVISIONS OF THIS SECTION SHALL BE IN ADDITION TO ANY INSURANCE REQUIREMENTS OF THE LOAN AGREEMENT.    
		

		
			[SIGNATURE PAGE FOLLOWS]
		

		
			 
		

		

		

		 

		

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		(Signature Page to Second Lien Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing Statement)
		

		
			IN WITNESS WHEREOF, Grantor has on the date set forth in the acknowledgement hereto, effective as of the date first above written, caused this instrument to be duly EXECUTED AND DELIVERED by authority duly given.
		

			
					
						GRANTOR:

					
					
						Green Plains Hereford LLC,
a Delaware limited liability company

				
	
					
						﻿

					
					
						By:

					
					
						/s/ Michelle Mapes

				
	
					
						﻿

					
					
						 

					
					
						 

					
						Name:  Michelle Mapes

				
	
					
						﻿

					
					
						 

					
					
						Title:  Chief Legal & Administration
           Officer

				

		
			﻿
		

		
			﻿
		

		
			﻿
		

		
			STATE OF NEBRASKA)
		

		
			) ss.:
		

		
			COUNTY OF DOUGLAS)
		

		
			﻿
		

		
			This instrument was acknowledged before me on the 29th day of March, 2018, by Michelle Mapes, the Chief Legal & Administration Officer of Green Plains Hereford LLC, a Delaware limited liability company, on behalf of said limited liability company.
		

		
			﻿
		

		
			/s/ Ronda Alcala
		

		
			﻿
		

		
			Notary Public, State of Nebraska
		

		
			﻿
		

		
			Printed Name of Notary:  Ronda Alcala
		

		
			﻿
		

		
			Notary expiration date:  9/29/20
		

		
			﻿
		

		
			﻿
		

		
			SEAL OF NOTARY
		

		
			﻿
		

		
			 
		

		

		

		 

		

			S-1

		

 

		

			 

		

		EXHIBIT A
		

		
			Legal Description
		

		
			TRACT 1 (Fee):
		

		
			﻿
		

		
			A 241.409 acre tract, more or less in Section 18, Block K-3, Abstract Number 824, Certificate Number 323, Stone, Kyle & Kyle Survey, Deaf Smith County, Texas. The survey of same is based upon the remaining evidences of the resurvey of said section by Surveyor R. O. Whyman in December, 1913, the field notes thereof of record in Volume 4, Page 18, Field Note Records of Deaf Smith County, Texas. Said 241.409 acre tract is described by metes and bounds as follows:
		

		
			﻿
		

		
			BEGINNING at a 2 inch iron pipe found in County Road 8, the Northwest corner of Section 18 and the Northeast corner of Section 23, Block K-3;
		

		
			﻿
		

		
			THENCE South 88 degrees 49 minutes 12 seconds East (bearings referenced to the Texas Coordinate System, North Zone, NAD '83), 3967.89 feet along the North line of Section 18 to a 1/2 inch iron rod set with a cap stamped HBD, set for the Northeast corner of this tract;
		

		
			﻿
		

		
			THENCE South 01 degrees 34 minutes 15 seconds West, at 30.85 feet pass a 1/2 inch iron rod set with a cap stamped HBD, set in the South physical line of County Road 8, at a total distance of 2651.17 feet to a 1/2 inch iron rod set with a cap stamped HBD, set for the Southeast corner of this tract;
		

		
			﻿
		

		
			THENCE North 88 degrees 49 minutes 05 seconds West, 3965.45 feet to a 1/2 inch iron rod set with a cap stamped HBD, set in the East line of Section 23 and the West line of Section 18 for the Southwest corner of this tract, from this point a 1/2 inch iron rod found with a cap stamped 1848", the Southwest corner of Section 18 bears South 01 degrees 31 minutes 06 seconds West, 2651.00 feet;
		

		
			﻿
		

		
			THENCE North 01 degrees 31 minutes 06 seconds East, 2651.00 feet along the East line of Section 23 and the West line of Section 18 to the place of beginning.
		

		
			﻿
		

		
			SAVE AND EXCEPT THEREFROM that 4.71 acre tract in Section 18, Block K-3, Abstract Number 824, Certificate Number 323, Stone, Kyle & Kyle Survey, Deaf Smith County, Texas. The survey of the same is based upon the remaining evidences of the resurvey of said section by Surveyor R. O. Whyman in December, 1913, the field notes thereof of record in Volume 4, Page 18, Field Note Records of Deaf Smith County, Texas. Said 4.71 acres tract is described by metes and bounds as follows:
		

		
			﻿
		

		
			COMMENCING at a mag nail in pavement found for the Northwest corner of Section 18, Block K-3;
		

		
			﻿
		

		
			THENCE South 01 degree 31 minutes 06 seconds West, along the West line of Section 18, a distance of 846.70 feet;
		

		
			﻿
		

		
			THENCE South 88 degrees 28 minutes 54 seconds East, a distance of 1061.44 feet to a 3/8 inch iron rod with cap stamped "HBD" set for the Northwest and BEGINNING CORNER of this tract;
		

		
			﻿
		

		
			THENCE South 65 degrees 36 minutes 25 seconds East, a distance of 331.90 feet to an "X" in concrete set; 
		

		
			﻿
		

		
			THENCE North 24 degrees 08 minutes 42 seconds East, a distance of 52.43 feet to an "X" in concrete set;
		

		
			﻿
		

		
			THENCE South 65 degrees 47 minutes 40 seconds East, a distance of 126.42 feet to an "X" in
		

		
			concrete set;
		

		
			﻿
		

		
			THENCE South 22 degrees 26 minutes 29 seconds West, a distance of 146.13 feet to a 3/8 inch iron rod with cap stamped "HBD" set;
		

		
			﻿
		

		

		

		 

		

			Exhibit A-1

		

 

		

			 

		

		THENCE North 64 degrees 22 minutes 14 seconds West, a distance of 60.21 feet to a 3/8 inch iron rod with cap stamped "HBD" set;
		

		
			﻿
		

		
			THENCE South 24 degrees 11 minutes 42 seconds West, a distance of 415.58 feet to an "X" in concrete set;
		

		
			﻿
		

		
			THENCE North 66 degrees 04 minutes 22 seconds West, a distance of 356.56 feet to a 3/8 inch iron rod with cap stamped "HBD" set;
		

		
			﻿
		

		
			THENCE North 19 degrees 08 minutes 29 seconds East, a distance of 512.56 feet to the PLACE OF BEGINNING.
		

		
			﻿
		

		
			TRACT 2 {Fee):
		

		
			﻿
		

		
			A 141.644 acre tract, more or less in Section 23, Block K-3, Abstract Number 279, Certificate Number 326, Stone, Kyle & Kyle Survey, Deaf Smith County, Texas. The survey of same is based upon the remaining evidences of the resurvey of said section by Surveyor R. O. Whyman in December, 1913, the field notes thereof of record in Volume 4, Page 23, Field Note Records of Deaf Smith County, Texas. Said 141.644 acre tract is described by metes and bounds as follows:
		

		
			﻿
		

		
			BEGINNING at a 2 inch iron pipe found in County Road 8, the Northeast corner of Section 23 and the Northwest corner of Section 18, Block K-3;
		

		
			﻿
		

		
			THENCE South 01 degrees 31 minutes 06 seconds West (bearings referenced to the Texas Coordinate System, North Zone, NAD '83), 2174.58 feet along the West line of Section 18 and the East line of Section 23 to a 1/2 inch iron rod set with a cap stamped HBD, set for the Southeast corner of this tract;
		

		
			﻿
		

		
			THENCE South 89 degrees 21 minutes 07 seconds West, 2156.33 feet to a 1/2 inch iron rod set with a cap stamped HBD, set for a corner of this tract;
		

		
			﻿
		

		
			THENCE North 39 degrees 26 minutes 13 seconds West, 309.94 feet to a 1/2 inch iron rod set with a cap stamped HBD, set for a corner of this tract;
		

		
			﻿
		

		
			THENCE North 29 degrees 40 minutes 11 seconds West, 838.03 feet to a 1/2 inch iron rod set with a cap stamped HBD, set for a corner of this tract;
		

		
			﻿
		

		
			THENCE South 82 degrees 59 minutes 37 seconds West, 1565.45 feet to a 1/2 inch iron rod set with a cap stamped HBD, set in the Southeasterly right of way line of the Burlington Northern Santa Fe Railroad for the West corner of this tract;
		

		
			﻿
		

		
			THENCE North 60 degrees 19 minutes 14 seconds East, 2307.70 feet to a 1/2 inch iron rod set with a cap stamped HBD, set at a bend in the Southeasterly right of way line of the Burlington Northern Santa Fe Railroad;
		

		
			﻿
		

		
			THENCE North 60 degrees 20 minutes 36 seconds East, 640.63 feet along the Southeasterly right of way line to a 1/2 inch iron rod set with a cap stamped HBD, set in the North line of Section 23 for the Northwest corner of this tract;
		

		
			﻿
		

		
			THENCE South 88 degrees 48 minutes 07 seconds East, 1818.01 feet along the North line of Section 23 to the place of beginning.
		

		
			﻿
		

		
			SAVE AND EXCEPT THEREFROM that 4.144-acre portion conveyed to Elaine Rodgers Webster by Special Warranty Deed recorded as Document No. 10-1383 in the Official Public Records of Deaf Smith County, Texas, being more particularly described by metes and bounds as follows:
		

		
			﻿
		

		
			Being a 4.144 acre tract of land being situated in the Northeast part of Section 23, block K-3, Abstract Number 279, Certificate Number 326, Stone, Kyle & Kyle Survey, Deaf Smith County, Texas, and being further described by metes and bounds as follows:
		

		
			﻿
		

		

		

		 

		

			S-2

		

		

			 

		

 

		

			 

		

		BEGINNING at a 1/2 inch iron rod found with cap marked "HBD" at the intersection of the North line of said Section 23 and the South right of way line of the BNSF Railroad;
		

		
			﻿
		

		
			THENCE SOUTH 88 degrees 48 minutes 07 seconds EAST (Bearing referenced to the Texas Coordinate System) along the North line of said Section 23, a distance of 1199.27 feet to a 1/2 inch iron rod with cap marked "HBD" set, a point on a non-tangent curve to the left having a radius of 3550.00 feet, whence a 2 inch iron pipe found for the Northeast corner of said Section 23 bears SOUTH 88 degrees 48 minutes 07 seconds EAST, 618.76 feet;
		

		
			﻿
		

		
			THENCE Southwesterly along said curve to the left an arc distance of 779.46 feet (Chord bearing: South 75 degrees 16 minutes 51 seconds West·- 777.90 feet) to a 1/2 inch iron rod with cap marked "HBD" set;
		

		
			﻿
		

		
			THENCE SOUTH 68 degrees 59 minutes 27 seconds WEST, a distance of 29.11 feet to a 1/2 inch iron rod with cap marked "HBD" set for the beginning of a curve to the right having a radius of 415.00 feet;
		

		
			﻿
		

		
			THENCE Northwesterly along said curve to the right an arc distance of 589.13 feet (Chord bearing: North 70 degrees 20 minutes 28 seconds West·- 540.89 feet) to a 1/2 inch iron rod with cap marked "HBD" set in the South right of way line of the BNSF Railroad;
		

		
			﻿
		

		
			THENCE NORTH 60 degrees 20 minutes 29 seconds EAST, along said BNSF right of way line a distance of 103.45 feet to the POINT OF BEGINNING of this tract.
		

		
			﻿
		

		
			TRACT 3 (Leasehold):
		

		
			﻿
		

		
			LEASEHOLD ESTATE created by that certain unrecorded Water Well Lease dated effective as of November 8, 2005, by and between City of Hereford, Texas, as Landlord, and Panda Hereford Ethanol, L.P., a Delaware limited partnership, as Tenant, as evidenced by that Memorandum of Lease dated November 8, 2005, between City of Hereford, Texas (Landlord) and Panda Hereford Ethanol, LP. (Tenant), filed for record June 22, 2006, and recorded under Instrument Number 06-1654, Official Public Records of Deaf Smith County, Texas, and assigned by Ground Lease Assignment dated June 11, 2009, between Hereford Biofuels, LP., formerly known as Panda Hereford Ethanol, LP., as assignor, and Ethanol Acquisition, LLC, as assignee, filed for record June 17, 2009 and recorded under Instrument Number 09-1418, Official Public Records of Deaf Smith County, Texas, and further assigned to Hereford Renewable Energy, LLC, by Ethanol Acquisition, LLC, pursuant to Assignment of Ground Lease dated August 27, 2010, filed for record August 31, 2010 and recorded under Instrument Number 10-1671, Official Public Records of Deaf Smith County, Texas, in and to the following described property:
		

		
			﻿
		

		
			A 0.86 Acre (37,527 square foot) tract, more or less, out of a tract conveyed to City of Hereford by deed recorded in Volume 270, Page 707, Deed Records of Deaf Smith County, Texas, lying in Section 18, Block K-3, Abstract Number 824, Certificate Number 323, Stone, Kyle & Kyle Survey, Deaf Smith County, Texas, being more particularly described by metes and bounds as follows:
		

		
			﻿
		

		
			BEGINNING at a 1/2 inch iron rod with cap marked "HBO", set in the North line of said Section 18, whence a 1/2 inch iron rod with cap marked "RPLS 1848" found for the Northeast corner of said Section 18, bears South 88 degrees 49 minutes 12 seconds East, a distance of 872.83 feet;
		

		
			﻿
		

		
			THENCE South 01 degree 34 minutes 15 seconds West, a distance of 83.44 feet to a 3/8 inch iron rod with cap marked "HBD", set;
		

		
			﻿
		

		
			THENCE North 88 degrees 49 minutes 12 seconds West, a distance of 449.80 feet to a 3/8 inch iron rod with cap marked "HBD" set in the East line of a tract of land known as 241.409 acres conveyed to Panda Hereford Holdings by deed recorded as Instrument No. 05-1118, Official Public Records of Deaf Smith County, Texas;
		

		
			﻿
		

		
			THENCE North 01 degrees 34 minutes 15 seconds East, a distance of 83.43 feet to a 1/2 inch iron rod with cap marked "HBD" found for the Northeast corner of said 241.409 acre tract;
		

		
			﻿
		

		
			THENCE South 88 degrees 49 minutes 12 seconds East, along the North line of said Section 18, a distance of 449.80 feet to the POINT OF BEGINNING of this tract.
		

		

		

		 

		

			S-3

		

		

			 

		

 

		

			 

		

		﻿
		

		
			TRACT 4 (Easement):
		

		
			﻿
		

		
			A portion of Section 23, Block K-3, South of the Burlington Northern Santa Fe Railroad, being a grading and slope easement in the Wade Lewis property as described below:
		

		
			﻿
		

		
			BEGINNING at the 1/2 inch iron rod set with a cap stamped HBD that is the Southeast corner of the Panda Parcel tract;
		

		
			﻿
		

		
			THENCE South 01 degrees 31 minutes 06 seconds West, 25.00 feet along the West line of Section 18 and the East line of Section 23;
		

		
			﻿
		

		
			THENCE North 73 degrees 03 minutes 16 seconds West, 73.43 feet to the property line of the Panda Parcel tract;
		

		
			﻿
		

		
			THENCE North 89 degrees 21 minutes 07 seconds East, 70.00 feet to the place of beginning.
		

		
			﻿
		

		 

		

			S-4Exhibit 1051

		
			Exhibit 10.51
		

		
			EMPLOYMENT AGREEMENT
		

		
			This Employment Agreement (this “Agreement ”) is effective as of the Effective Date (as defined herein) and is entered into by and among Green Plains, Inc., an Iowa corporation (“GPRE”), its wholly owned subsidiaries SCI Ingredients Holdings, Inc., and its operating subsidiary Fleischmann’s Vinegar Company, Inc., each a Delaware corporation (such subsidiaries collectively, the “Company”), and Kenneth M. Simril, an individual (“Executive”) this 27th day of September, 2016.
		

		
			In consideration of the promises and mutual covenants contained herein, the parties hereto agree as follows:
		

			
	
			
				 1.
			Employment; Location. The Company hereby employs Executive and Executive hereby accepts such employment in the Cerritos, CA metro area.  As soon as reasonably practicable after the Effective Date, GPRE shall open a small office for limited Company executives in the Los Angeles, CA metro area.

			
	
			
				 2.
			Term.  Executive’s employment shall be “at-will” and may be terminated at any time, by either party, for any reason whatsoever (the “Term”).  Executive shall provide sixty (60) days’ prior written notice if he decides to terminate this Agreement without Good Reason (as defined herein).  Executive is currently and has been employed with the Company; provided, however, the Company is a party to a Stock Purchase Agreement with GPRE and the Sellers  (as defined and set forth in the Stock Purchase Agreement) (the “SPA”), and the parties hereto recognize that Executive’s employment with the Company after the closing of the transactions contemplated in the SPA depends on the parties hereto agreeing upon the terms, conditions and consideration set forth herein.  The parties further intend that this Agreement shall become effective immediately upon the Closing (as defined in the SPA, and hereinafter, the “Effective Date”), and should the Effective Date not occur, this Agreement shall be null and void.   At the Effective Date, this Agreement replaces in its entirety the Employment Agreement by and between SCI Ingredients Holdings, Inc. and Executive dated January 30, 2015.  

			
	
			
				 3.
			Duties and Authorities. During the Term:

			
	
			
				 3.1
			Executive shall serve as the President & Chief Executive Officer of the Company and shall report to the Chief Executive Officer (“GPRE CEO”) of GPRE. Executive shall have responsibilities, duties and authority reasonably accorded to and expected of such positions in similar businesses in the United States, including such responsibilities and duties assigned by the GPRE CEO from time to time (the “Duties”).

			
	
			
				 3.2
			Executive shall diligently execute such Duties and shall devote his full time, skills and efforts to such Duties, subject to the general supervision and control of the GPRE CEO.  Executive will not engage in any other employment, occupation or consulting activity during the Term of this Agreement, without the consent of the GPRE CEO; provided, however, that Executive may manage  his personal investments, serve on civic, charitable or non-profit boards, engage in charitable activities and conduct the activities set forth on Schedule 1  so long as such activities do not materially interfere with his performance of the Duties.

		 

		

			1

		

		

			 

		

 

			
	
			
				 4.
			Compensation and Benefits. The Company or GPRE, as applicable, shall pay Executive, and Executive accepts as full compensation for all services to be rendered to the Company and GPRE, the following compensation and benefits:

			
	
			
				 4.1
			Base Salary. The Company shall pay Executive a base salary of Three Hundred Fifty Thousand Dollars ($350,000) per year.  Base salary shall be payable in equal installments twice monthly or at more frequent intervals in accordance with the Company’s customary pay schedule.  The Company shall annually consider increases of Executive’s base salary and may periodically increase such base salary in its discretion.

			
	
			
				 4.2
			Additional Compensation.  In addition to base salary, the Company shall pay the following to Executive:

			
	
			
				 (a)
			Signing Bonus.  Within three (3) business days of the Effective Date, the Company shall make a one-time cash payment of Two Hundred Fifty Thousand Dollars ($250,000) as a signing bonus.  Such bonus shall be repaid by Executive to the Company in the event Executive terminates employment, in the first year from the Effective Date, without Good Reason (as hereinafter defined) or the Company terminates Executive for Cause (as hereinafter defined).  

			
	
			
				 (b)
			Annual Bonus.  Executive shall continue to participate in the Company’s incentive plan through the end of the Company’s 2017 fiscal year  (i.e., through June 30, 2017) under terms and conditions as in effect immediately prior to the Effective Date.  Thereafter, Executive will be entitled to participate in the GPRE short-term incentive plan (“STIP”) which currently has designated a bonus opportunity each calendar year of up to two hundred percent (200%) of annual base salary, payable annually,  when target objectives set by GPRE’s Compensation Committee are achieved. Executive’s STIP award opportunity for the 2017 calendar year (including the applicable target objectives) will be for the “stub” period from July 1, 2017 through December 31, 2017.  The STIP is subject to change at the discretion of the Board of Directors of GPRE (the “Board of Directors”). Notwithstanding the provisions herein, unless terminated for Cause, Executive shall be guaranteed to receive a minimum of $350,000 as an annual bonus for the Company’s 2017 fiscal year at the one-year anniversary of the Effective Date, provided Executive is still employed with the Company at such anniversary.  

			
	
			
				 (c)
			Long-Term Incentive Compensation.  The GPRE Compensation Committee of GPRE has developed a long-term incentive program (“LTIP”) for GPRE, which is subject to change at the discretion of the Board of Directors. Executive shall be eligible to participate in such LTIP at the sole discretion of the Board of Directors, in each case at levels and under terms and conditions at least commensurate with those provided to similarly situated executives of GPRE.

			
	
			
				 4.3
			Equity Incentive Compensation.

			
	
			
				 (a)
			Stock Compensation.    Within three (3) business days of the Effective Date, GPRE shall provide Executive a grant of $500,000 of  GPRE’s common stock (using the closing price on the Effective Date), which shall be subject to terms and conditions set out in the Company’s 2009 Equity Compensation Plan and related stock grant.    As will be set forth in the 
		

		 

		

			2

		

		

			 

		

 

			related stock grant, the shares shall vest as follows:  one-third shall vest one year after the Effective Date, with one-third vesting each year thereafter until fully vested.  Except as otherwise stated herein, all shares not vested at the time of Executive’s termination from employment shall be forfeited.

			
	
			
				 4.4
			Additional Benefits.  Executive will continue to participate in Company benefit plans at levels and under terms and conditions in effect immediately prior to the Effective Date until such time as GPRE transitions such benefits to GPRE benefit plans.  Executive shall be permitted, during the Term, if and to the extent eligible, to participate in any group life, hospitalization or disability insurance plan, health or dental program, pension plan, similar benefit plan or other so-called “fringe benefits” of the Company and GPRE made available to officers of the Company and GPRE,  in each case at levels and under terms and conditions at least commensurate with those provided to similarly situated executives.   As an officer and director of GPRE and the Company, Executive shall be provided with indemnification coverage under GPRE’s and/or the Company’s charter, and Executive shall also be covered under GPRE’s and/or the Company’s D&O insurance policies in effect from time to time.    

			
	
			
				 4.5
			Vacation.  Executive shall be entitled to an aggregate of up to four weeks leave for vacation for each calendar year during the Term at full pay.  Executive agrees to give reasonable notice of his vacation scheduling requests, which shall be allowed subject to the Company’s reasonable business needs. No more than five (5) days vacation may be carried over from one year to the next year.     

			
	
			
				 4.6
			Deductions.  The Company shall have the right to deduct from the compensation due to Executive hereunder any and all sums required for social security and withholding taxes and for any other federal, state or local tax or charge which may be hereafter enacted or required by law as a charge on the compensation of Executive.

			
	
			
				 5.
			Business Expenses. Executive may incur reasonable, ordinary and necessary business expenses in the course of his performance of his obligations under this Agreement. The Company shall reimburse Executive in accordance with the Company’s business expense reimbursement policy.

			
	
			
				 6.
			Intentionally Left Blank

		
			﻿
		

		 

		

			3

		

		

			 

		

 

			
	
			
				 7.
			Termination.

			
	
			
				 7.1
			Termination for Cause.  Executive’s employment hereunder shall be terminable for Cause (as defined below) upon written notice from the Company to Executive. As used in this Agreement, “Cause” shall mean one of the following: (a) a material breach by Executive of the terms of this Agreement, not cured within thirty (30) days from receipt of notice from the GPRE CEO of such breach, (b) conviction of or plea of guilty or no contest to, a felony; (c) willful misconduct or gross negligence in connection with the performance of Executive’s duties; or (d) willfully engaging in conduct that constitutes fraud, gross negligence or gross misconduct that results in material harm to the Company.  For purposes of this definition, no act, or failure to act, on Executive’s part shall be considered "willful" unless done, or omitted to be done, by Executive in knowing bad faith and without reasonable belief that his action or omission was in, or not opposed to, the best interests of the Company or GPRE.  If the Company terminates Executive’s employment for Cause, Executive shall be paid his salary and benefits through the date of termination and, except as otherwise required by applicable law or under any applicable and properly approved compensation plan or arrangement, no other amounts shall be payable.  

			
	
			
				 7.2
			Termination without Cause or for Good Reason.  The Company may terminate Executive’s employment at any time for any reason (or no reason) other than Cause, as determined by the GPRE CEO, and the Executive may terminate Executive’s employment with the Company for Good Reason and resign any and all positions as officer of the Company and any related companies. If the Company terminates Executive’s employment without Cause or the Executive terminates his employment for Good Reason:

			
	
			
				 (a)
			The Company shall pay within 10 business days after such termination:  (1) an amount equal to six (6) months of Executive’s full annual base salary on the date of his termination; and (2) for fiscal year ending June 2017, to the extent then unpaid (if applicable), the minimum guaranteed 2017 fiscal year annual bonus contemplated in Section 4.2(b); and

			
	
			
				 (b)
			All options and other equity awards, whether made pursuant to this agreement or otherwise, shall become fully vested and released from any restrictions on transfer upon such termination.    

		
			As used in this Agreement, “Good Reason” shall mean any of the following if the same occurs without Executive’s express written consent:  (a) a material diminution in Executive’s base salary as described in Section 4.1, which for such purposes shall be deemed to exist with a reduction of greater than fifteen percent (15%); (b) a material diminution in Executive’s authority, Duties, or responsibilities; (c) a material diminution in the authority, duties, or responsibilities of the person to whom Executive is required to report; (d) a material change in the geographic location at which Executive must perform the services pursuant to Section 1; (e) any material reduction or other adverse change in Executive’s benefits under any applicable and properly approved compensation plan or arrangement without the substitution of comparable benefits; or (f) any other action or inaction that constitutes a material breach by GPRE or the Company under this Agreement. To terminate for Good Reason, an Executive must incur a termination of employment on or before the second (2nd) anniversary of the initial existence of the condition.
		

		 

		

			4

		

		

			 

		

 

		
			Executive shall be required to provide notice to the Company of the existence of any of the foregoing conditions within 60 days of the initial existence of the condition, upon the notice of which GPRE or the Company shall have a period of 30 days during which it may remedy the condition.
		

			
	
			
				 7.3
			Termination by Executive Without Good Reason.  If Executive terminates without Good Reason, then Executive will be required to give the Company at least sixty (60) days’ notice.  If Executive terminates without Good Reason then Executive will be paid his salary and benefits through the date of termination and, except as otherwise required by applicable law, no other amounts shall be payable except as provided under any applicable and properly approved compensation plan or arrangement. 

			
	
			
				 7.4
			Effect of Termination.  In the event Executive’s employment is terminated, all obligations of the Company and all obligations of Executive shall cease except that (a) the terms of this Section 7 and of Sections 8 through 22 below shall survive such termination and (b) GPRE and the Company shall continue to be obligated to fulfill their obligations pursuant to Sections  4 and 5 to the extent they have not been satisfied as of the date of such termination.  Executive acknowledges that, upon termination of his employment, he is entitled to no other compensation, severance or other benefits other than those specifically set forth in this Agreement, except to the extent provided in any applicable compensation plan or arrangement. 

			
	
			
				 8.
			Covenant Not to Compete; Nonsolicitation.

			
	
			
				 8.1
			Covenant.  Executive hereby agrees that, while he is employed or engaged by the Company as either an employee or as a consultant pursuant to this Agreement, and, in any event, for the one  (1)  year period following Executive’s termination of employment for any reason, he will not engage in Competition (as defined in Section 8.1 below) with the Company or its subsidiaries.

			
	
			
				 8.2
			Competition.  Competition shall  mean: (a) engaging in the Business (as defined below) anywhere in the Restricted Territory (as defined below); or (b) to be or become an officer, director, stockholder, owner, affiliate, salesperson, co-owner, partner, trustee, promoter, technician, engineer, analyst, employee, agent, representative, supplier, contractor, consultant, advisor or manager of, or to otherwise acquire or hold any interest in, or participate in or knowingly facilitate the financing, operation, management or control of any firm, partnership, corporation, person, entity or business that engages in the Business in the Restricted Territory. 

		
			Notwithstanding the foregoing, the Executive shall not be precluded from (i) purchasing or owning, directly or beneficially, as a passive investment, two percent (2%) or less of the securities of any publicly-traded entity that engages in the Business if he does not actively participate in or control, directly or indirectly, any investment or other decisions with respect to such entity, (ii) holding a passive investment in an entity engaged in the Business held through an index fund, an exchange traded fund, a mutual fund, hedge fund, or other form of collective investment or fund, or through a managed account, in each case, where a third-party that is not affiliated with the Executive exercises investment discretion in respect of such fund or account and in which the Restricted Person does not have the ability to control or exercise any managerial influence over such fund or account, (iii) purchasing or owning, directly or beneficially, any investment in any 
		

		 

		

			5

		

		

			 

		

 

		entity if, at the time such investment is made, the entity in which such investment is made is not engaged in the Business, and to the extent such entity later commences to engage in the Business the Executive does not have the ability to control or exercise any managerial influence over such entity and is not otherwise associated with such entity, (iv) engaging in civic, charitable and academic pursuits, including serving on boards, committees or similar bodies of charitable, civic or other nonprofit organizations, or (v) serving as an executor, trustee or other similar fiduciary.
		

		
			"Business" means either: (a) the business of any products or services that are competitive with or substitutable for those products or services offered or being developed by the Company or any of its subsidiaries, whether in existence at the Effective Date or at any time prior to the termination of this Agreement, or (b) the business of vinegar production, the retail sales of vinegar or the production of food ingredient products, in any case, that are competitive with or substitutable for those products or services offered or being developed by the Company or any of its subsidiaries.
		

		
			"Restricted Territory" means (a) anywhere in the United States, Canada or Mexico or (b) any other country to which the products or services of the Company and/or any of its subsidiaries are being sold directly or through distribution streams as of the Effective Date or at any time prior to the termination of this Agreement.
		

		
			﻿
		

			
	
			
				 8.3
			Nonsolicitation.  Executive hereby agrees that while he is employed or engaged by the Company as either an employee or as a consultant pursuant to this Agreement, and, in any event, during the one  (1) year period following Executive’s termination of employment for any reason, he will not directly or indirectly solicit or attempt to solicit any customer, vendor or distributor of the Company, other than for GPRE or the Company, with respect to any product or service being furnished, made or sold by the Company at any time during Executive’s employment with the Company.  Executive further agrees that during such time period, Executive shall not, directly or indirectly, solicit, encourage or attempt to solicit any of the executives, managers or employees who are employed by the Company on his termination date to become executives, manages or employees of any other person or entity with which Executive is affiliated.

			
	
			
				 9.
			Confidential Information.  Executive acknowledges that during his employment or consultancy with the Company he will develop, discover, have access to and/or become acquainted with technical, financial, marketing, personnel and other information relating to the present or contemplated products or the conduct of business of the Company which is of a confidential and proprietary nature (“Confidential Information”). Executive agrees that all files, records, documents and the like relating to such Confidential Information, whether prepared by him or otherwise coming into his possession, shall remain the exclusive property of the Company, and Executive hereby agrees to promptly disclose such Confidential Information to the Company upon request and hereby assigns to the Company any rights which he may acquire in any Confidential Information. Executive further agrees not to disclose or use any Confidential Information and to use his best efforts to prevent the disclosure or use of any Confidential Information either during the term of his employment or consultancy or at any time thereafter, except as may be necessary in the ordinary course of performing his duties under this Agreement. Upon termination of Executive’s employment or consultancy with the Company for any reason, (a) Executive shall promptly deliver to the Company all materials, documents, data, equipment and other physical property of any nature containing or pertaining to any Confidential Information, and (b) Executive shall not take from the Company’s premises any such material or equipment or any reproduction 
		

		 

		

			6

		

		

			 

		

 

			thereof; provided, however, that Executive may retain a copy of this Agreement and any other agreement, contract, plan, policy or arrangement under which he receives compensation or benefits from or on behalf of GPRE, the Company or their affiliates.

			
	
			
				 10.
			Inventions.

			
	
			
				 10.1
			Disclosure of Inventions.  Executive hereby agrees that if he conceives, learns, makes or first reduces to practice, either alone or jointly with others, any “Employment Inventions” (as defined in Section 10.3 below) while he is employed by the Company, either as an employee or as a consultant, he will promptly disclose such Employment Inventions to the GPRE CEO or to any other Company officer designated by the Board of Directors.

			
	
			
				 10.2
			Ownership, Assignment Assistance and Power of Attorney.  All Employment Inventions shall be the sole and exclusive property of the Company, and the Company shall have the right to use and to apply for patents, copyrights or other statutory or common law protection for such Employment Inventions in any country. Executive hereby assigns to the Company any rights which he may acquire in such Employment Inventions. Furthermore, Executive agrees to assist the Company in every proper way at the Company’s expense to obtain patents, copyrights and other statutory or common law protections for such Employment Inventions in any country and to enforce such rights from time to time. Specifically, Executive agrees to execute all documents as the Company may desire for use in applying for and in obtaining or enforcing such patents, copyrights and other statutory or common law protections together with any assignments thereof to the Company or to any person designated by the Company. Executive’s obligations under this Section 10 shall continue beyond the termination of his employment under this Agreement, but the Company shall compensate Executive at a reasonable rate after any such termination for the time which Executive actually spends at the Company’s request in rendering such assistance. In the event the Company is unable for any reason whatsoever to secure Executive’s signature (after reasonable attempts to do so) to any lawful document required to apply for or to enforce any patent, copyright or other statutory or common law protections for such Employment Inventions, Executive hereby irrevocably designates and appoints the Company and its duly authorized officers and agents as his agents and attorneys-in-fact to act in his stead to execute such documents and to do such other lawful and necessary acts to further the issuance and prosecution of such patents, copyrights or other statutory or common law protection, such documents or such acts to have the same legal force and effect as if such documents were executed by or such acts were done by Executive.

			
	
			
				 10.3
			Employment Inventions.  The definition of “Employment Invention” as used herein is as follows: “Employment Invention” means any invention or part thereof conceived, developed, reduced to practice, or created by Executive which is: (a) conceived, developed, reduced to practice, or created by Executive: (i) within the scope of his employment; (ii) on the Company’s time; or (iii) with the aid, assistance, or use of any of the Company’s property, equipment, facilities, supplies, resources, or intellectual property; (b) the result of any work, services, or duties performed by Executive for the Company; (c) related to the industry or trade of the Company; or (d) related to the current or demonstrably anticipated business, research, or development of the Company.

		 

		

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				 10.4
			Prior Inventions.  Executive has identified on Exhibit A attached hereto a complete list of all inventions which Executive has conceived, learned, made or first reduced to practice, either alone or jointly with others, prior to employment with the Company and which Executive desires to exclude from the operation of this Agreement. 

			
	
			
				 10.5
			Inventions of Third Parties.  Executive shall not disclose to the Company, use in the course of his employment, or incorporate into the Company’s products or processes any confidential or proprietary information or inventions that belong to a third party, unless the Company has received authorization from such third party and Executive has been directed by the GPRE CEO to do so.

			
	
			
				 11.
			Compliance with Section 409A of the Code; Section 280G of the Code.  Notwithstanding any provision in this Agreement to the contrary, this Agreement shall be interpreted, construed and conformed in accordance with Section 409A of the Code and regulations and other guidance issued thereunder. If, on the date of Executive’s separation from service (as defined in Treasury Regulation §1.409A-1(h)), Executive is a specified employee (as defined in Code Section 409A and Treasury Regulation §1.409A-1(i)), no payment shall be made under this Agreement at any time during the 6-month period following the Employee's separation from service of any amount that results in the "deferral of compensation" within the meaning of Treasury Regulation §1.409A-1(b), after application of the exemptions provided in Treasury Regulation §§1.409A-1(b)(4) and 1.409A-1(b)(9)(iii) and (v), and any amounts otherwise payable during such 6-month period shall be paid in a lump sum on the first payroll payment date following expiration of such 6-month period.     Each payment under this Agreement shall be treated as a “separate payment” for purposes of Section 409A of the Code.  To the extent required to avoid an accelerated or additional tax under Section 409A of the Code, amounts reimbursable to Executive under this Agreement shall be paid on or before the last day of the year following the year in which the expense was incurred and the amount of expenses eligible for reimbursement (and in-kind benefits provided to Executive) during any one year may not affect amounts reimbursable or provided in any subsequent year. 

			
	
			
				 12.
			No Conflicts.  Executive hereby represents that, to the best of his knowledge, his performance of all the terms of this Agreement and his work as an employee or consultant of the Company does not breach any oral or written agreement which he has made prior to his employment with the Company.

			
	
			
				 13.
			Equitable Remedies.  Executive acknowledges and agrees that the breach or threatened breach by him of certain provisions of this Agreement, including without limitation Sections 8 9 or 10 above, would cause irreparable harm to the Company for which damages at law would be an inadequate remedy. Accordingly, Executive hereby agrees that in any such instance the Company shall be entitled to seek injunctive or other equitable relief in addition to any other remedy to which it may be entitled.

			
	
			
				 14.
			Assignment.  This Agreement is for the unique personal services of Executive and is not assignable or delegable in whole or in part by Executive without the consent of the GPRE CEO. This Agreement may be assigned or delegated in whole or in part by the Company and, in such case, the terms of this Agreement shall inure to the benefit of, be assumed by, and be binding upon the entity to which this Agreement is assigned.

		 

		

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				 15.
			Waiver or Modification.  Any waiver, modification or amendment of any provision of this Agreement shall be effective only if in writing in a document that specifically refers to this Agreement and such document is signed by the parties hereto.

			
	
			
				 16.
			Entire Agreement.  This Agreement constitutes the full and complete understanding and agreement of the parties hereto with respect to the specific subject matter covered herein and therein and supersede all prior oral or written understandings and agreements with respect to such specific subject matter.

			
	
			
				 17.
			Severability.  If any provision of this Agreement is found to be unenforceable by a court of competent jurisdiction, the remaining provisions shall nevertheless remain enforceable in full force and effect, and the court making such determination shall modify, among other things, the scope, duration, or geographic area of such affected provision to preserve the enforceability thereof to the maximum extent then permitted by law.

			
	
			
				 18.
			Notices.  All notices thereunder shall be in writing addressed to the respective party as set forth below and may be personally served, sent by facsimile transmission, sent by overnight courier service, or sent by United States mail, return receipt requested. Such notices shall be deemed to have been given: (a) if delivered in person, on the date of delivery; (b) if delivered by facsimile transmission, on the date of transmission if transmitted by 5:00 p.m. (local time, Omaha, Nebraska) on a business day or, if not, on the next succeeding business day; provided that a copy of such notice is also sent the same day as the facsimile transmission by any other means permitted herein; (c) if delivered by overnight courier, on the date that delivery is first attempted; or (d) if by United States mail, on the earlier of two (2) business days after depositing in the United States mail, postage prepaid and properly addressed, or the date delivery is first attempted. Notices shall be addressed as set forth as set forth on the signature page hereof, or to such other address as the party to whom such notice is intended shall have previously designated by written notice to the serving party. Notices shall be deemed effective upon receipt.

			
	
			
				 19.
			Governing Law.  The parties acknowledge and agree that after the Effective Date, substantial aspects of the business will occur in Nebraska and as such, this Agreement shall be governed by and construed in accordance with the laws of the State of Nebraska, without reference to the choice of law provisions thereof. Any action, suit or proceeding based upon, arising out of or related to this Agreement or the transactions contemplated hereby shall be brought in any federal court of the United States of America sitting in the State of Nebraska, and each of the parties irrevocably submits to the exclusive jurisdiction of each such court in any such action, suit or proceeding, waives any objection it may now or hereafter have to personal jurisdiction, venue or to convenience of forum, agrees that all claims in respect of the action, suit or proceeding shall be heard and determined only in any such court, and agrees not to bring any action, suit or proceeding arising out of or relating to this Agreement or the transactions contemplated hereby in any other court.

			
	
			
				 20.
			Attorneys’ Fees.  In the event an action or proceeding is brought by any party under this Agreement to enforce or construe any of its terms, the party that prevails by enforcing this Agreement shall be entitled to recover, in addition to all other amounts and relief, its reasonable costs and attorneys’ fees incurred in connection with such action or proceeding.

		 

		

			9

		

		

			 

		

 

			
	
			
				 21.
			Construction. Whenever the context requires, the singular shall include the plural and the plural shall include the singular, the whole shall include any part thereof, and any gender shall include all other genders. The headings in this Agreement are for convenience only and shall not limit, enlarge, or otherwise affect any of the terms of this Agreement. Unless otherwise indicated, all references in this Agreement to sections refer to the corresponding sections of this Agreement. This Agreement shall be construed as though all parties had drafted it and each party acknowledges that they have had adequate time to consult with their own legal counsel.

			
	
			
				 22.
			Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same agreement. Counterparts and signatures transmitted by facsimile shall be valid, effective and enforceable as originals.

		

		

		 

		

			10

		

		

			 

		

 

		IN WITNESS WHEREOF, Executive has signed this Agreement personally and GPRE and the Company have each caused this Agreement to be executed by its duly authorized representative.
		

		
			﻿
		

		
			﻿
		

		
			GREEN PLAINS INC. 
		

		
			﻿
		

		
			﻿
		

		
			By: /s/ Todd Becker
		

		
			Name:  Todd Becker
		

		
			Title: Chief Executive Officer
		

		
			﻿
		

		
			SCI Ingredients Holdings, Inc.
		

		
			﻿
		

		
			﻿
		

		
			By: /s/ Todd Becker
		

		
			Name:  Todd Becker
		

		
			Title: Chairman of the Board
		

		
			﻿
		

		
			Fleishmann’s Vinegar Company, Inc.
		

		
			﻿
		

		
			﻿
		

		
			By: /s/ Todd Becker
		

		
			Name:  Todd Becker
		

		
			Title: Chairman of the Board
		

		
			﻿
		

		
			Address for GPRE and COMPANY:
		

		
			Green Plains Inc.
		

		
			450 Regency Parkway Suite 400
		

		
			Omaha NE 68114
		

		
			﻿
		

		
			Executive
		

		
			﻿
		

		
			/s/ Kenneth M. Simril, individually
		

		
			﻿
		

		
			Address:
		

		
			﻿
		

		
			Mr. Kenneth M. Simril
		

		
			12604 Hidden Creek Way, Suite A
		

		
			Cerritos, California 90703 
		

		
			 
		

		

		

		 

		

			11

		

		

			 

		

 

		

			 

		

		EXHIBIT A
		

		
			EXCLUDED INVENTIONS
		

		
			﻿
		

		
			None 
		

		

		

		 

		

			12

		

 

		

			 

		

		SCHEDULE I
		

		
			Executive will, effective October 1, 2016, serve on a for-profit board for a private company.  Commensurate with this appointment, Executive will relinquish his board duties at the Los Angeles County Employee Retirement Association, effective on or around January 2017.
		

		
			﻿
		

		 

		

			13

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