Document:

EXHIBIT 10.50B

                    FOURTH AMENDMENT TO THE CREDIT AGREEMENT

          This Amendment is made and entered into as of the 15th day of October,
2002,  by and between WELLS FARGO BANK, NATIONAL ASSOCIATION, successor to First
Security Bank ("Bank"), and AMERICAN ECOLOGY CORPORATION, a Delaware corporation
("Borrower").

                                R E C I T A L S

          A.     Borrower  and Bank  entered into  a Credit Agreement,  dated as
of August 17, 2000 (as amended, modified, or supplemented from time to time, the
"Credit  Agreement").

          B.     Borrower has asked Bank to amend the Credit Agreement to extent
the  maturity  date  and  adjust  the  interest  rate.

          C.     Bank is willing to amend the Credit Agreement upon the terms
and  conditions  of  this  Amendment.

                                A M E N D M E N T

          NOW, THEREFORE, the parties agree as follows.

          1.     DEFINITIONS

          Except as specifically defined otherwise in this Amendment, all of the
terms  herein  shall have the same meaning as contained in the Credit Agreement.

          2.     AMENDMENTS

               A.     AMENDMENTS TO ARTICLE 1 - DEFINITIONS.

                    (i)     The definition of "Commitment Amount" in Section 1.1
of  the  Credit  Agreement  is  amended to decrease the amount to $6,000,000 and
shall  provide  in  its  entirety  as  follows:

          "COMMITMENT AMOUNT" means Six Million Dollars ($6,000,000), less
     (i)the  aggregate  stated  amount of all Letters of Credit then outstanding
     and  available  for  drawing, and (ii) the aggregate amount of unreimbursed
     drawings  on  Letters  of  Credit.

                    (ii)     The definition of "Guarantor" in Section 1.1 of the
Credit Agreement is amended to reflect the dissolution of several guarantors and
shall  provide  in  its  entirety  as  follows:

FOURTH AMENDMENT TO CREDIT AGREEMENT - 1
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          "GUARANTOR"  means,  jointly  and  severally, US Ecology, Inc., a
     California  corporation,  Texas Ecologists, Inc., a Texas corporation,
     American  Ecology  Recycle  Center,  Inc.,  a  Delaware  corporation,
     American  Ecology  Environmental  Services  Corporation,  a  Texas
     corporation,  American  Ecology  Management  Corporation,  a  Delaware
     corporation,  American Ecology Services Corp., a Delaware corporation,
     and  US  Ecology  Idaho,  Inc.,  a  Delaware  corporation.

                    (iii)     The  definition  of  "Letter  of Credit Commitment
Amount"  in  Section 1.1 of the Credit Agreement is amended to adjust the amount
of  Revolving  Loans  that will reduce the Letter of Credit Commitment Amount to
reflect  the decrease in the Commitment Amount and shall provide in its entirety
as  follows:

          "LETTER  OF CREDIT COMMITMENT AMOUNT" means Three Million Dollars
     ($3,000,000),  less the amount of the outstanding principal balance of
     the  Revolving  Loans in excess of Three Million Dollars ($3,000,000).

                    (iv)     The definition of "Maturity Date" in Section 1.1 of
the  Credit  Agreement is amended to extend the date to June 15, 2004, and shall
provide  in  its  entirety  as  follows:

          "MATURITY  DATE"  means June 15, 2004, or such other date as Bank
     and  Borrower  may  agree  upon  in  writing  from  time  to  time.

               B.     AMENDMENTS TO ARTICLE 2 - LOANS AND TERMS OF PAYMENT.

                    (i)     Subsection 2.1.2  of the Credit Agreement is amended
to  modify  the  interest rate for the Revolving Loans, and shall provide in its
entirety  as  follows:

               2.1.2 INTEREST  ON THE REVOLVING LOANS. Each Revolving Loan shall
     be a Prime Loan or a LIBOR Loan, as selected by Borrower in accordance with
     the  terms  of  this  Agreement.

                    2.1.2.1     Each  Revolving  Loan that is a Prime Loan shall
     bear  interest  at  a  fluctuating  per  annum rate equal to the Prime Rate
     increased by the applicable Prime Margin set forth below. Bank's Prime Rate
     may  change  from  time  to time, and the interest payable will continue to
     fluctuate at the rate as stated herein. Any changes to the Prime Rate shall
     become  effective without prior notice to Borrower on the date on which the
     Prime  Rate  changes.

                    2.1.2.2     Each  Revolving  Loan that is a LIBOR Loan shall
     bear  interest  at a fluctuating per annum rate equal to the Adjusted LIBOR
     Interest  Rate for the applicable Interest Period, as quotes are available,
     increased  by  the  applicable LIBOR Margin set forth below. Any changes to
     the  LIBOR Margin shall not apply to LIBOR Loans outstanding or requested
     on  the  date  the  LIBOR  Margin  is  adjusted.

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                    2.1.2.3     The  Prime  Margins,  the  LIBOR  Margins,  the
     Commitment  Margins,  and  the  L/C  fees  are  as  follows:

         FUNDED DEBT RATIO      PRIME    LIBOR   COMMITMENT   L/C FEE
     ------------------------  -------  -------  -----------  --------
     less than 1.00:1.00          0.0%    2.00%        0.15%     1.25%
     ------------------------  -------  -------  -----------  --------
     less than 2.00: 1.00 but   0.125%    2.25%        0.25%    1.375%
     greater than or equal to
     1.00:1.00
     ------------------------  -------  -------  -----------  --------
     less than 3.00: 1.00 but    0.25%    2.50%        0.30%     1.50%
     greater than or equal to
     2.00:1.00
     ------------------------  -------  -------  -----------  --------
     less than 3.50: 1.00 but    0.50%    2.75%        0.40%     1.75%
     greater than or equal to
     3.00:1.00
     ------------------------  -------  -------  -----------  --------
     less than or equal to       1.00%    3.25%        0.50%     2.00%
     4.00: 1.00 but greater
     than or equal to
     3.50:1.00
     ------------------------  -------  -------  -----------  --------
     greater than 4.00: 1.00   1.00%*   3.25%*         0.50%     2.00%
     ------------------------  -------  -------  -----------  --------
*Plus increase for an Event of Default pursuant to Section 2.5, if applicable.

                    2.1.2.4     The  Prime  Margin,  LIBOR  Margin,  Commitment
     Margin,  and  L/C  Fee shall be based upon the Borrower's Funded Debt Ratio
     (defined  in  paragraph 2.1.2.5) determined on a rolling four quarter basis
     from the Borrower's financial statements delivered to Bank and adjusted, if
     necessary,  on  the  first  day of the second month after Bank's receipt of
     financial  statements  that  show  an  adjustment  is  necessary.

                    2.1.2.5     Borrower's  Funded Debt Ratio shall be the ratio
     of  Borrower's Funded Debt to EBITDA. The term "Funded Debt" shall mean, as
     of  the  date  of  determination as applied to Borrower, the sum of (i) all
     indebtedness  of  Borrower  owing  to  third  parties  for  money borrowed,
     including capitalized leases of Borrower having a final maturity of one (1)
     year  or  more  from  the  date  of creation (including that portion of the
     principal  of  such  indebtedness  due within one (1) year from the date of
     such  determination),  (ii) any indebtedness of the Borrower having a final
     maturity  within  one  (1)  year  from  such  date  which may be renewed or
     extended at the option of the Borrower for more than one (1) year from such
     date,  (iii)  the  outstanding  balance  of  the  Revolving Loans, (iv) all
     obligations  for  the  deferred  purchase  price of any property or assets,
     including, without limitation, operating leases for such purpose (excluding
     trade payables), (v) all obligations for deferred closure/post closure, and
     (vi)  all  obligations  of  Borrower  created  or  arising  with respect to
     property  or  assets acquired under any conditional sales contract or other
     title  retention  agreement  or  incurred  as financing, less the amount of
     Borrower's short term investments as of the date of determination. The term
     "EBITDA"  shall  mean,

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     for  any  period,  as  applied to Borrower, the sum of Borrower's earnings,
     excluding  any  extraordinary  and nonoperating income, before (a) interest
     expense,  (b) depreciation, (c) dividends, (d) taxes, (e) amortization, and
     (f)  other  noncash  charges.

                    (ii)     Subsection 2.6.4 of the Credit Agreement is amended
to have the interest for all Loans  computed on the basis of a 360-day year, and
shall  provide  in  its  entirety  as  follows:

               2.6.4     The actual interest to be charged on the Loans shall be
     calculated  daily  on the outstanding balance for the actual number of days
     elapsed  on  the basis of a year consisting of 360 days. Should the rate of
     interest  exceed  that allowed by law, the applicable rate of interest will
     be  the  maximum  rate  of  interest lawfully allowed. The principal amount
     outstanding  on  which  the  interest  rate(s)  shall  be  charged shall be
     determined from the Bank's records, which shall at all times be conclusive,
     absent  manifest  error.

               C.     AMENDMENTS TO ARTICLE 5 - AFFIRMATIVE COVENANTS.

                    (i)     Subsection  5.8.2 of the Credit Agreement is amended
to  require  a  Borrowing  Base Certificate only when the outstanding borrowings
exceed  60%  of  Borrower's  net  accounts  receivable, and shall provide in its
entirety  as  follows:

               5.8.2     BORROWING  BASE  CERTIFICATE. Borrower shall furnish to
     Bank on or before the 20th day of each month reporting as of the end of the
     last  Business  Day  of  the  prior month statements of accounts receivable
     aging  and  a  certificate  setting  forth  information with respect to the
     Borrowing Base, executed and certified as accurate by an authorized officer
     of Borrower. The certificate shall be in substantially the form attached to
     the  Agreement as EXHIBIT 5.8.2 or such other form as Borrower and Bank may
     agree  upon  in writing. Borrower shall not be required to furnish Bank the
     statements  and  certificates  required by this subsection on any reporting
     date  if  the  aggregate  total  of  the Revolving Loans and the Letters of
     Credit  on  such  date  does not exceed 60% of the amount of Borrower's net
     accounts  receivable  as  reported  in the most recent SEC Report or Annual
     Financial  Statements  of  Borrower  furnished  to  Bank.

                    (ii)     Subsection 5.8.8 of the Credit Agreement is amended
to  establish  an absolute date by which a coy of Borrower's 1OQ reports must be
furnished  to  Bank,  and  shall  provide  in  its  entirety  as  follows:

               5.8.8     SEC REPORTS.  Borrower shall furnish to Bank as soon as
     possible  and  in  any event within five (5) Business Days after the filing
     thereof,  copies  of  all  regular,  periodic, and special reports, and all
     registration  statements  that  the

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<PAGE>
     Borrower  or  any  Subsidiary  files  with  the  Securities  and  Exchange
     Commission  or any governmental authority that may be substituted therefor,
     or  with  any  national securities exchange, including, without limitation,
     10Q, 10K, and 8K reports. Notwithstanding anything in this Agreement to the
     contrary,  Borrower  furnish  Bank  with a copy of Borrower's 10Q report no
     later  than  45  days  after  the  end  of  each  fiscal  quarter.

               D.     AMENDMENTS TO ARTICLE 7 - FINANCIAL COVENANTS.

                    Article 7 of the Credit Agreement is amended by the addition
of  a  new Section 7.4 to establish a maximum Funded Debt Ratio to be maintained
by  Borrower,  and  the  section  shall  provide  in  its  entirety  as follows:

          7.4     FUNDED DEBT RATIO.

          Borrower  shall  maintain  at  the end of each fiscal quarter and each
     fiscal  year  a  Funded Debt Ratio (as defined in Paragraph 2.1.2.5) of not
     greater  than  4.00  to  1.00.

               E.     AMENDMENTS TO ARTICLE 9 - BANK'S RIGHTS AND REMEDIES.

                    Article 9 of the Credit Agreement is amended by the addition
of  a  new Section 9.4 to establish procedure for resolution of disputes through
arbitration,  and  the  section  shall  provide  in  its  entirety  as  follows:

          9.4     ARBITRATION.

               9.4.1     ARBITRATION.  The  parties  shall,  upon  demand by any
     party, submit to binding arbitration all claims, disputes and controversies
     between or among them (and their respective employees, officers, directors,
     attorneys,  and  other  agents),  whether  in  tort,  contract or otherwise
     arising  out  of  or  relating  to  in  any  way (i) the Loans and the Loan
     Documents  and  their  negotiation,  execution,  collateralization,
     administration,  repayment,  modification,  extension,  substitution,
     formation,  inducement,  enforcement,  default  or  termination;  or  (ii)
     requests  for  additional  credit.

               9.4.2     GOVERNING RULES.  Any  arbitration  proceeding will (i)
     proceed  in  a  location  in  Idaho  selected  by  the American Arbitration
     Association ("AAA"); (ii) be governed by the Federal Arbitration Act (Title
     9 of the United States Code), notwithstanding any conflicting choice of law
     provision  in  any  of  the  documents  between  the  parties; and (iii) be
     conducted  by  the  AAA,  or  such other administrator as the parties shall
     mutually  agree  upon,  in  accordance  with  the  AAA's commercial dispute
     resolution  procedures,  unless  the  claim  or  counterclaim  is  at least
     $1,000,000.00  exclusive of claimed interest, arbitration fees and costs in
     which  case the arbitration shall be conducted in accordance with the AAA's
     optional  procedures

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<PAGE>
     for  large,  complex commercial disputes (the commercial dispute resolution
     procedures  or  the  optional  procedures  for  large,  complex  commercial
     disputes to be referred to, as applicable, as the "Rules"). If there is any
     inconsistency  between  the  terms  hereof  and  the  Rules,  the terms and
     procedures  set  forth herein shall control. Any party who fails or refuses
     to  submit  to arbitration following a demand by any other party shall bear
     all  costs  and  expenses  incurred  by  such  other  party  in  compelling
     arbitration  of any dispute. Nothing contained herein shall be deemed to be
     a  waiver  by  any  party  that is a bank of the protections afforded to it
     under  12  U.S.C.  Sec.91  or  any  similar  applicable  state  law.

               9.4.3     NO  WAIVER  OF PROVISIONAL REMEDIES,   Self-Help  and
     Foreclosure.  The  arbitration  requirement does not limit the right of any
     party  to  (i) foreclose against real or personal property collateral; (ii)
     exercise  self-help  remedies  relating  to  collateral  or  proceeds  of
     collateral  such  as setoff or repossession; or (iii) obtain provisional or
     ancillary  remedies  such as replevin, injunctive relief, attachment or the
     appointment  of  a  receiver,  before  during  or after the pendency of any
     arbitration  proceeding. This exclusion does not constitute a waiver of the
     right  or  obligation  of any party to submit any dispute to arbitration or
     reference  hereunder,  including  those  arising  from  the exercise of the
     actions  detailed  in  sections  (i),  (ii)  and  (iii)  of this paragraph.

               9.4.4     ARBITRATOR QUALIFICATIONS AND POWERS.   Any arbitration
     proceeding in which the amount in controversy is $5,000,000.00 or less will
     be  decided by a single arbitrator selected according to the Rules, and who
     shall  not  render  an  award of greater than $5,000,000.00. Any dispute in
     which  the  amount in controversy exceeds $5,000,000.00 shall be decided by
     majority  vote  of a panel of three arbitrators; provided however, that all
     three  arbitrators  must  actively  participate  in  all  hearings  and
     deliberations.  The  arbitrator  will be a neutral attorney licensed in the
     State of Idaho or a neutral retired judge of the state or federal judiciary
     of  Idaho,  in  either  case  with a minimum of ten years experience in the
     substantive  law  applicable  to  the  subject  matter of the dispute to be
     arbitrated.  The  arbitrator  will  determine  whether  or  not an issue is
     arbitratable  and  will  give  effect  to  the  statutes  of  limitation in
     determining  any  claim.  In any arbitration proceeding the arbitrator will
     decide (by documents only or with a hearing at the arbitrator's discretion)
     any pre-hearing motions which are similar to motions to dismiss for failure
     to  state a claim or motions for summary adjudication. The arbitrator shall
     resolve  all  disputes  in accordance with the substantive law of Idaho and
     may  grant  any  remedy or relief that a court of such state could order or
     grant  within the scope hereof and such ancillary relief as is necessary to
     make effective any award. The arbitrator shall also have the power to award
     recovery  of all costs and fees, to impose sanctions and to take such other
     action  as  the arbitrator deems necessary to the same extent a judge could
     pursuant  to the Federal Rules of Civil Procedure, the Idaho Rules of Civil
     Procedure  or other applicable law. Judgment upon the award rendered by the
     arbitrator may be entered in any court having jurisdiction. The institution
     and  maintenance  of  an  action  for

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<PAGE>
     judicial  relief  or pursuit of a provisional or ancillary remedy shall not
     constitute  a waiver of the right of any party, including the plaintiff, to
     submit  the controversy or claim to arbitration if any other party contests
     such  action  for  judicial  relief.

               9.4.5     DISCOVERY.  In  any  arbitration  proceeding  discovery
     will  be  permitted  in  accordance  with the Rules. All discovery shall be
     expressly  limited  to  matters  directly  relevant  to  the  dispute being
     arbitrated  and  must be completed no later than 20 days before the hearing
     date  and  within  180  days of the filing of the dispute with the AAA. Any
     requests  for  an  extension  of  the  discovery  periods, or any discovery
     disputes,  will  be subject to final determination by the arbitrator upon a
     showing  that  the  request  for  discovery  is  essential  for the party's
     presentation  and  that  no  alternative means for obtaining information is
     available.

               9.4.6     CLASS  PROCEEDINGS  AND CONSOLIDATIONS.  The resolution
     of  any  dispute  arising  pursuant to the terms of this Agreement shall be
     determined  by a separate arbitration proceeding and such dispute shall not
     be  consolidated  with  other disputes or included in any class proceeding.

               9.4.7     PAYMENT OF ARBITRATION COSTS AND FEES.   The arbitrator
     shall  award  all  costs  and  expenses  of  the  arbitration  proceeding.

               9.4.8     REAL  PROPERTY  COLLATERAL.  Notwithstanding  anything
     herein to the contrary, no dispute shall be submitted to arbitration if the
     dispute  concerns  indebtedness secured directly or indirectly, in whole or
     in  part,  by any real property unless (i) the holder of the mortgage, lien
     or  security  interest  specifically  elects in writing to proceed with the
     arbitration,  or  (ii)  all  parties to the arbitration waive any rights or
     benefits  that  might  accrue  to  them by virtue of the single action rule
     statute of Idaho, thereby agreeing that all indebtedness and obligations of
     the  parties, and all mortgages, liens and security interests securing such
     indebtedness  and  obligations,  shall  remain fully valid and enforceable.

               9.4.9     MISCELLANEOUS.  To  the maximum extent practicable, the
     AAA,  the  arbitrators  and  the  parties shall take all action required to
     conclude  any  arbitration  proceeding within 180 days of the filing of the
     dispute  with  the  AAA.  No  arbitrator  or  other party to an arbitration
     proceeding  may  disclose the existence, content or results thereof, except
     for  disclosures  of information by a party required in the ordinary course
     of  its  business  or  by  applicable  law  or regulation. If more than one
     agreement  for arbitration by or between the parties potentially applies to
     a  dispute,  the  arbitration  provision  most directly related to the Loan
     Documents  or  the  subject  matter  of  the  dispute  shall  control. This
     arbitration provision shall survive termination, amendment or expiration of
     any  of  the  Loan  Documents  or  any  relationship  between  the parties.

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<PAGE>
          3.     CONDITIONS PRECEDENT

          As  conditions  precedent to Bank's obligation to extend the financial
accommodations  provided  for  in  this  Amendment,  Borrower  shall execute and
deliver,  or  cause to be executed and delivered, to Bank, in form and substance
satisfactory  to  Bank  and  its  counsel,  the  following:

               A.     REVOLVING NOTE.

               The  new  Revolving  Note  required  by  this  Amendment  in
substantially the form attached as Exhibit 3A, duly executed by Borrower.

               B.     EVIDENCE OF ALL CORPORATE ACTION BY BORROWER.

               Certified  copies  of  all  corporate  action  taken  by Borrower
authorizing its execution and delivery of this Amendment and each other document
to be delivered pursuant to this Amendment and its performance of its agreements
thereunder.

               C.     CERTIFICATES OF EXISTENCE.

               Certificates  of  good  standing  or  existence  that  Bank  may
reasonably  require  showing that Borrower is in good standing under the laws of
the  state  of  its  incorporation.

               D.     PUBLIC RECORD SEARCHES.

               Uniform Commercial Code financing statement searches, federal and
state  income  tax  lien  searches,  judgment  or  litigation searches, or other
similar  searches  that Bank may reasonably require and in such form as Bank may
reasonably  require.

               E.     PAYMENT OF LOAN AMENDMENT FEE.

               Payment  of  the  Loan  Amendment Fee as required by Section 4 of
this  Amendment.

               F.     ADDITIONAL DOCUMENTATION.

               Such  other  approvals,  opinions,  or  documents  as  Bank  may
reasonably request.

          4.     LOAN AMENDMENT FEE.

          Upon  the  execution of this Amendment, Borrower shall pay Bank a loan
amendment  fee  of Twelve Thousand Dollars ($12,000.00). The fee shall represent
an  unconditional payment to Bank in consideration of Bank's agreement to extend
financial  accommodations  to  Borrower  pursuant  to  this  Amendment.

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<PAGE>
          5.     REAFFIRMATION OF LOAN DOCUMENTS.

          Borrower  acknowledges and reaffirms all existing security agreements,
financing  statements,  and  any other documents executed in connection with the
Credit  Agreement. Borrower further acknowledges and agrees that the Obligations
shall  be  secured  by  all  collateral  to  be  granted by Borrower to secure a
proposed  term  loan  from  Bank  to  Borrower.

          6.     BORROWER'S COVENANTS, REPRESENTATIONS, AND WARRANTIES.

          In  order to induce Bank to enter into this Amendment and to amend the
Credit  Agreement  in  the  manner  provided  herein,  Borrower acknowledges and
reaffirms  as  true, correct, and complete in all material respects on and as of
the  date  of this Amendment all covenants, representations, and warranties made
by  Borrower  in  the  Credit Agreement and the other Loan Documents to the same
extent  as  though  made  on  and as of the date of execution of this Amendment.
Borrower  represents  and warrants that the execution, delivery, and performance
by  the  Borrower  of  this  Amendment has been duly authorized by all necessary
corporate  action.  Borrower  further  represents and warrants that there are no
Events  of  Default  or  facts which constitute, or with the passage of time and
without  change  will  constitute, an Event of Default under the Loan Documents.
Borrower  further  represents  that there has been no material adverse change in
Borrower's  business  or  financial  condition  from  that reflected in the most
recent  of  Borrower's  financial  statements  that have been delivered to Bank.
Borrower  further  represents and warrants that Borrower has no claims or causes
of action of any kind whatsoever against Bank or any of Bank's present or former
employees,  officers,  directors,  attorneys,  or  agents  of  any kind in their
capacity  as  such  (collectively, the "Released Parties") and further, that the
Released  Parties  have  performed  all  of the respective obligations under the
Credit  Agreement and other Loan Documents and have complied with all provisions
therein  set  forth.  Borrower  acknowledges  that  as  of October 11, 2002, the
outstanding principal balance of the Revolving Loans is $0.00, and the aggregate
stated  amount of all Letters of Credit outstanding and available for drawing is
$1,150,000.

          7.     SUBSIDIARIES AND OWNERSHIP OF STOCK.

          Borrower represents and warrants to Bank that set forth m Exhibit 7 is
a  complete  and  accurate list of the Subsidiaries of the Borrower, showing the
jurisdiction  of  incorporation  of  each  and  showing  the  percentage  of the
Borrower's  ownership  of  the  outstanding stock of each Subsidiary. All of the
outstanding  capital  stock  of each such Subsidiary has been validly issued, is
fully paid and nonassessable, and is owned by the Borrower free and clear of all
Liens.

          8.     COURSE OF DEALING.

          No  course  of  dealing  heretofore  or hereafter between Borrower and
Bank,  or  any  failure or delay on the part of Bank in exercising any rights or
remedies under the Credit Agreement or existing by law shall operate as a waiver
of  any right or remedy of Bank with respect to said indebtedness, and no single
or  partial  exercise  of  any  right  or  remedy  hereunder  shall operate as a

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waiver  or  preclusion  to the exercise of any other rights or remedies Bank may
have  in  regard  to  said  indebtedness.

          9.     GOVERNING LAW.

          This  Amendment is made in the State of Idaho, which state the parties
agree  has  a  substantial  relationship  to  the  parties and to the underlying
transaction  embodied  hereby.  Accordingly, in all respects, this Amendment and
the Loan Documents and the obligations arising hereunder and thereunder shall be
governed  by,  and  construed in accordance with, the laws of the State of Idaho
applicable  to contracts made and performed in such state and any applicable law
of  the  United  States  of  America.  Each  party  hereby  unconditionally  and
irrevocably  waives, to the fullest extent permitted by law, any claim to assert
that  the  law  of  any  jurisdiction other than the State of Idaho governs this
Amendment  and  the  Loan  Documents.

          10.     COSTS AND EXPENSES.

          Borrower  shall  pay  on  demand by Bank all Bank Expenses incurred by
Bank in connection with the preparation, execution, delivery, filing, recording,
and  administration  of  this  Amendment  or  any  of the documents contemplated
hereby,  including,  without  limitation,  the reasonable fees and out of pocket
expenses  of  counsel  for Bank with respect to this Amendment and the documents
and  transactions  contemplated  hereby.

          11.     ENTIRE AGREEMENT.

          The  Credit  Agreement  as amended by this Amendment together with the
other  Loan  Documents  supersedes  all  prior negotiations, understandings, and
agreements  between  the  parties,  whether  oral  or  written,  and  all  such
negotiations,  understandings,  and agreements are evidenced by the terms of the
Loan  Documents.  The  Credit Agreement may not be further altered or amended in
any  manner  except  by  a  writing  signed  by  Bank  and  Borrower.

          12.     EFFECTS OF THIS AMENDMENT.

          This  Amendment  shall  be  binding  and  deemed  effective when it is
executed  by  Borrower,  accepted  and  executed  by  Bank,  and  all conditions
precedent  set  forth in Section 3 have been fulfilled. All terms, covenants and
conditions  of  the  Credit  Agreement  that have not been modified, amended, or
otherwise  changed by this Amendment are reaffirmed and remain in full force and
effect.

          13.     COUNTERPARTS.

          This  Amendment maybe executed in counterparts and may be delivered by
facsimile  transmission. Each such counterpart shall constitute an original, but
all  such  counterparts  shall  constitute  but  one  Amendment.

FOURTH AMENDMENT TO CREDIT AGREEMENT - 10
<PAGE>
          IN WITNESS WHEREOF, Borrower has executed this Amendment as of the
Date first written above.

                              BORROWER:

                              AMERICAN ECOLOGY CORPORATION

                              By
                                ------------------------------
                                James R. Baumgardner
                                Sr. Vice President and CFO

                               GUARANTOR'S CONSENT

          Each  Guarantor  consents  to,  acknowledges, and accepts the forgoing
Amendment.  Each Guarantor affirms and ratifies its Continuing and Unconditional
Guaranty  made  by  Guarantor  for  the  benefit  of  Bank (the "Guaranty"), and
confirms that the Guaranty remains in full force and effect and binding upon the
Guarantor  without  any  setoffs,  defenses,  or  counterclaims  of  any  kind
whatsoever. Each Guarantor also acknowledges and reaffirms all existing security
agreements, financing statements, and any other documents the Guarantor executed
in  connection  with  the  Guaranty  or  the  Credit  Agreement.

          Dated as of October 15, 2002.

                              GUARANTORS:

                              AMERICAN ECOLOGY SERVICES CORPORATION

                              By
                                ------------------------------
                                James R Baumgardner
                                Vice President and Treasurer

                              AMERICAN ECOLOGY MANAGEMENT CORPORATION

                              By
                                ------------------------------
                                James R Baumgardner
                                Vice President and Treasurer

FOURTH AMENDMENT TO CREDIT AGREEMENT - 11
<PAGE>
                              TEXAS ECOLOGISTS, INC

                              By
                                ------------------------------
                                James R. Baumgardner
                                Vice President and Treasurer

                              AMERICAN ECOLOGY RECYCLE CENTER, INC.

                              By
                                ------------------------------
                                James R, Baumgardner
                                Vice President and Treasurer

                              AMERICAN ECOLOGY ENVIRONMENTAL SERVICES
                              CORPORATION

                              By
                                ------------------------------
                                James R, Baumgardner
                                Vice President and Treasurer

                              US ECOLOGY, INC.

                              By
                                ------------------------------
                                James R, Baumgardner
                                Vice President and Treasurer

                              US ECOLOGY IDAHO, INC.

                              By
                                ------------------------------
                                James R, Baumgardner
                                Vice President and Treasurer

FOURTH AMENDMENT TO CREDIT AGREEMENT - 12
<PAGE>
                                BANK'S ACCEPTANCE

          Accepted  and  effective  as  of the 15th day of October, 2002, in the
State of Idaho.

                              WELLS FARGO BANK, NATIONAL ASSOCIATION

                              By
                                ------------------------------
                                Brian W. Cook, Vice President

FOURTH AMENDMENT TO CREDIT AGREEMENT - 13
<PAGE>
                                   EXHIBIT 3A

                             Form of Revolving Note

                                  See attached

EXHIBIT 3A - 1
<PAGE>
                                 REVOLVING NOTE

Borrower:            AMERICAN ECOLOGY CORPORATION                October 15,2002
                                                                    Boise, Idaho

Address:             805 W. Idaho, Suite 200
                     Boise, Idaho 83702

Principal Amount:    Six Million Dollars ($6,000,000)

          FOR  VALUE  RECEIVED,  AMERICAN  ECOLOGY  CORPORATION,  a  Delaware
corporation  ("Borrower"),  promises  to  pay  to the order of WELLS FARGO BANK,
NATIONAL  ASSOCIATION  ("Bank")  the  total principal amount outstanding on this
note  (the  "Note")  together  with  interest thereon as stated below, in lawful
money  of  the  United  States  of  America.

          This  Note  is executed pursuant to and is the Revolving Note referred
to in that certain Credit Agreement, dated August 17, 2000, between Borrower and
Bank  (as  amended,  modified,  or  supplemented  from time to time, the "Credit
Agreement").  Capitalized terms used but not defined in this Note shall have the
same  definitions  as  are  ascribed to such terms in the Credit Agreement. This
Note  is  governed  by  the  provisions  of  the  Credit  Agreement.

          This  Note  is  a  revolving promissory note and evidences a revolving
line  of  credit  not to exceed the maximum principal amount stated above at any
one  time. The amount outstanding on this Note at any specific time shall be the
total  amount  advanced  by Bank less the amount of principal payments made from
time  to  time,  plus  any  interest  due  and  payable.

          Borrower  agrees that any and all advances made hereunder shall be for
Borrower's  benefit,  whether  or  not said advances are deposited to Borrower's
account.  Advances  may be made at the request of those persons so identified in
the  Credit Agreement and such persons are hereby authorized to request advances
and to direct the disposition of any such advances in the manner provided in the
Credit  Agreement  until  written  notice  of  revocation  of  this authority is
received  by  Bank  from  Borrower.

          The  outstanding  unpaid balance of this Note shall bear interest at a
fluctuating per annum rate as set forth in the Credit Agreement. This Note shall
be  repaid  in  the  manner  set  forth  in  the  Credit  Agreement.

          This  Note  is  secured,  in  part,  by  a Security Agreement covering
accounts  and  other collateral as provided therein and in the Credit Agreement.

          This Note is made in the state of Idaho, which state the parties agree
has  a substantial relationship to the parties and to the underlying transaction
embodied  hereby.  Accordingly,  in  all respects, this Note and the obligations
arising  hereunder  shall  be governed by, and construed in accordance with, the
laws  of  the  state of Idaho applicable to contracts made and performed in such
state  and any applicable law of the United States of America. Each party hereby
unconditionally  and irrevocably waives, to the fullest extent permitted by law,
any  claim  to  assert  that  the  law  of  any

EXHIBIT 3A - 2
<PAGE>
jurisdiction  other  than  the  state  of Idaho governs this Note. All disputes,
controversies,  or  claims  arising  out  of,  or  in connection with, this note
shall be litigated  in  any  court of competent jurisdiction within the state of
Idaho. Each party hereby accepts jurisdiction of such state and agrees to accept
service of process as if it were personally served within such state. Each party
irrevocably  waives,  to the fullest extent permitted by law, any objection that
the  party  may  now or hereafter have to the jurisdiction of the courts of such
state  and any claim that any such litigation brought in any such court has been
brought  in  an  inconvenient  forum.

          Except  as  expressly  provided  in  the Credit Agreement, the makers,
sureties,  guarantors  and  endorsers  of  this note jointly and severally waive
presentment  for payment, protest, notice of protest and notice of nonpayment of
this  Note,  and consent that this Note or any payment due under this Note maybe
extended or renewed without demand or notice, and further consent to the release
of  any  collateral  or  part  thereof,  with  or  without  substitution.

                              AMERICAN ECOLOGY CORPORATION

                              By
                                ------------------------------
                                James R. Baumgardner
                                Sr. Vice President and CFO

EXHIBIT 3A - 3
<PAGE>
<TABLE>
<CAPTION>
                                       EXHIBIT 7

                     AMERICAN ECOLOGY CORPORATION AND SUBSIDIARIES

                                    (as of 10/15/02)

                                                       PERCENTAGE
                                                        OF STOCK
                                            PARENT      OWNED BY
COMPANY NAME/ADDRESSES                       CORP        PARENT        INCORP.
----------------------------------------  -----------  -----------  -------------
<S>                                       <C>          <C>          <C>
American Ecology Corporation (AEC)        N/A          N/A          Delaware
300 E. Mallard, Suite 300                                           3/23/87
Boise ID 83706
                        BIN 95-3889638
----------------------------------------  -----------  -----------  -------------
American Ecology Environmental Services   AEC                 100%  Texas
Corporation (AEESC)                                                 6/12/80
13640 Highway 155 North
Tyler TX 75708                                                      f/k/a
P.O. Box 248                                                        Gibraltar
WinonaTX 75792                                                      Chemical
                        BIN 75-1747175                              Resources, Inc.
                                                                    (name change
                                                                    1/4/95)
----------------------------------------  -----------  -----------  -------------
American Ecology Management Corporation   AEC                 100%  Delaware
(AEMC)                                                              9/22/94
805 W. Idaho
Suite 200
Boise ID 83702
                        Inactive Pending
----------------------------------------  -----------  -----------  -------------
American Ecology Recycle Center, Inc.     AEC                 100%  Delaware
(AERC)                                                              3/31/94
109 Flint Road
Oak Ridge TN 37830                                                  d/b/a US Ecology
                        BIN 62-1568988                              Nuclear
                                                                    Equipment Service
                                                                    Center (4/8/96)
                                                                    d/b/a US Ecology
                                                                    Nuclear Materials
                                                                    Management
                                                                    Center (4/8/96)
----------------------------------------  -----------  -----------  -------------
American Ecology Services Corporation     AEC                 100%  Delaware
(AESC)                                                              2/24/93
13 IN. RicheyRoad
Pasadena TX 77506
                        BIN 76-0400703
----------------------------------------  -----------  -----------  -------------
Texas Ecologists, Inc. (TECO)             USE                 100%  Texas
P.O. Box 307                                                        11/22/71
RobstownTX 78380
                        BIN 94-2 1643 12
----------------------------------------  -----------  -----------  -------------

EXHIBIT 7 - 1
<PAGE>
                                                       PERCENTAGE
                                                        OF STOCK
                                            PARENT      OWNED BY
COMPANY NAME/ADDRESSES                       CORP        PARENT        INCORP.
----------------------------------------  -----------  -----------  -------------
US Ecology, Inc. (USE)                    AEC                 100%  California
300 E. Mallard Drive, Suite 300                                     9/22/52
Boise ID 83706
                                                                    f/k/a
                                                                    Nuclear
                                                                    Engineering
                        BIN 94-1406536                              Company, Inc.
                                                                    (name change
                                                                    12/11/80)
----------------------------------------  -----------  -----------  -------------
US Ecology Idaho, Inc. (USEI)             AEC                 100%  Delaware
P.O. Box 400                                                        12/26/01
Lemley Road
Grand View, ID 83624                                                f/k/a
                        BIN 82-0365987                              Envirosafe
                                                                    Services of Idaho,
                                                                    Inc.
                                                                    (name change
                                                                    5/1/01)
----------------------------------------  -----------  -----------  -------------
</TABLE>

EXHIBIT 7 - 2
<PAGE>EXHIBIT 10.50C

                               TERM LOAN AGREEMENT

                                     BETWEEN

                    WELLS  FARGO  BANK,  NATIONAL  ASSOCIATION

                                       AND

                         AMERICAN  ECOLOGY  CORPORATION

                                      dated

                                October 28, 2002

<PAGE>
<TABLE>
<CAPTION>
                                TABLE OF CONTENTS

<C>     <S>                                                                   <C>
ARTICLE 1 - DEFINITIONS AND ACCOUNTING TERMS. . . . . . . . . . . . . . . . . . . . .   1
   1.1    Defined Terms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   1
   1.2    Accounting Terms. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   6

ARTICLE 2 - LOANS AND TERMS OF PAYMENT. . . . . . . . . . . . . . . . . . . . . . . .   6
   2.1    Term Loan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   6
          2.1.1    Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   6
          2.1.2    Repayment. . . . . . . . . . . . . . . . . . . . . . . . . . . . .   7
          2.1.3    Term Note. . . . . . . . . . . . . . . . . . . . . . . . . . . . .   8
          2.1.4    Origination Fee. . . . . . . . . . . . . . . . . . . . . . . . . .   8
          2.1.5    Use of Proceeds. . . . . . . . . . . . . . . . . . . . . . . . . .   8
   2.2    Method of Payment . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   8
   2.3    Prepayments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   9
   2.4    Late Charges and Default Interest . . . . . . . . . . . . . . . . . . . . .   9
   2.5    Additional Interest Rate Provisions . . . . . . . . . . . . . . . . . . . .   9
   2.6    LIBOR Loan Extensions and Conversions . . . . . . . . . . . . . . . . . . .  10
   2.7    Minimum LIBOR Loan Requirements . . . . . . . . . . . . . . . . . . . . . .  10
   2.8    Funding Loss Indemnification  . . . . . . . . . . . . . . . . . . . . . . .  11
   2.9    Taxes on Payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  11
  2.10    Grant of Security Interest  . . . . . . . . . . . . . . . . . . . . . . . .  11
  2.11    Financing Statements. . . . . . . . . . . . . . . . . . . . . . . . . . . .  11

ARTICLE 3 - CONDITIONS PRECEDENT. . . . . . . . . . . . . . . . . . . . . . . . . . .  12
   3.1    Documents Required for the Closing. . . . . . . . . . . . . . . . . . . . .  12
          3.1.1    Term Note. . . . . . . . . . . . . . . . . . . . . . . . . . . . .  12
          3.1.2    Security Agreement . . . . . . . . . . . . . . . . . . . . . . . .  12
          3.1.3    Guarantor Security Agreements. . . . . . . . . . . . . . . . . . .  12
          3.1.4    Opinion of Counsel for Borrower and Guarantor. . . . . . . . . . .  12
          3.1.5    Evidence of all Corporate Action by Borrower . . . . . . . . . . .  12
          3.1.6    Certificates of Existence for Borrower . . . . . . . . . . . . . .  13
          3.1.7    Articles of Incorporation and Bylaws of Borrower . . . . . . . . .  13
          3.1.8    Evidence of all Corporate Action by Guarantors . . . . . . . . . .  13
          3.1.9    Certificates of Existence for Guarantor. . . . . . . . . . . . . .  13
         3.1.10    Articles of Incorporation and Bylaws of Guarantor. . . . . . . . .  13
         3.1.11    Certificates of Assumed Business Name. . . . . . . . . . . . . . .  13
         3.1.12    Appraisals . . . . . . . . . . . . . . . . . . . . . . . . . . . .  13
   3.2    General Conditions Precedent. . . . . . . . . . . . . . . . . . . . . . . .  13
          3.2.1    No Material Adverse Change . . . . . . . . . . . . . . . . . . . .  13
          3.2.2    Financial Statements . . . . . . . . . . . . . . . . . . . . . . .  13
          3.2.3    Representations and Warranties . . . . . . . . . . . . . . . . . .  14

                                      -i-
<PAGE>
          3.2.4    Financial Covenants. . . . . . . . . . . . . . . . . . . . . . . .  14
          3.2.5    Evidence of Insurance. . . . . . . . . . . . . . . . . . . . . . .  14
          3.2.6    Public Record Searches . . . . . . . . . . . . . . . . . . . . . .  14
          3.2.7    Payment of Origination Fee . . . . . . . . . . . . . . . . . . . .  14
          3.2.8    Additional Documents . . . . . . . . . . . . . . . . . . . . . . .  14

ARTICLE 4 - REPRESENTATIONS AND WARRANTIES  . . . . . . . . . . . . . . . . . . . . .  14
   4.1    Organization, Good Standing, and Due Qualification  . . . . . . . . . . . .  14
   4.2    Power and Authority . . . . . . . . . . . . . . . . . . . . . . . . . . . .  15
   4.3    Legally Enforceable Agreement . . . . . . . . . . . . . . . . . . . . . . .  15
   4.4    Financial Statements  . . . . . . . . . . . . . . . . . . . . . . . . . . .  15
   4.5    Labor Disputes and Casualties . . . . . . . . . . . . . . . . . . . . . . .  16
   4.6    Other Agreements  . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  16
   4.7    No Litigation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  16
   4.8    No Defaults on Outstanding Judgments or Orders  . . . . . . . . . . . . . .  16
   4.9    Ownership and Liens . . . . . . . . . . . . . . . . . . . . . . . . . . . .  16
  4.10    Employee Benefits . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  16
  4.11    Operation of Business . . . . . . . . . . . . . . . . . . . . . . . . . . .  17
  4.12    Taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  17
  4.13    Debt  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  17
  4.14    Environmental Matters . . . . . . . . . . . . . . . . . . . . . . . . . . .  17
  4.15    Investment Company Act  . . . . . . . . . . . . . . . . . . . . . . . . . .  18
  4.16    Perfection of Security Interest . . . . . . . . . . . . . . . . . . . . . .  18
  4.17    Subsidiaries and Ownership of Stock . . . . . . . . . . . . . . . . . . . .  18

ARTICLE 5 - AFFIRMATIVE COVENANTS . . . . . . . . . . . . . . . . . . . . . . . . . .  18
   5.1    Maintenance of Existence  . . . . . . . . . . . . . . . . . . . . . . . . .  18
   5.2    Maintenance of Records  . . . . . . . . . . . . . . . . . . . . . . . . . .  18
   5.3    Maintenance of Properties . . . . . . . . . . . . . . . . . . . . . . . . .  19
   5.4    Conduct of Business . . . . . . . . . . . . . . . . . . . . . . . . . . . .  19
   5.5    Maintenance of Insurance  . . . . . . . . . . . . . . . . . . . . . . . . .  19
   5.6    Compliance with Laws  . . . . . . . . . . . . . . . . . . . . . . . . . . .  19
   5.7    Right of Inspection . . . . . . . . . . . . . . . . . . . . . . . . . . . .  19
   5.8    Reporting Requirements  . . . . . . . . . . . . . . . . . . . . . . . . . .  20
          5.8.1    Annual Financial Statements. . . . . . . . . . . . . . . . . . . .  20
          5.8.2    Management Letters . . . . . . . . . . . . . . . . . . . . . . . .  20
          5.8.3    Notice of Litigation . . . . . . . . . . . . . . . . . . . . . . .  20
          5.8.4    Notice of Defaults and Events of Default . . . . . . . . . . . . .  20
          5.8.5    ERISA Reports. . . . . . . . . . . . . . . . . . . . . . . . . . .  20
          5.8.6    Reports to Other Creditors . . . . . . . . . . . . . . . . . . . .  21
          5.8.7    SEC Reports. . . . . . . . . . . . . . . . . . . . . . . . . . . .  21
          5.8.8    Compliance Certificate . . . . . . . . . . . . . . . . . . . . . .  21
          5.8.9    Collateral Report. . . . . . . . . . . . . . . . . . . . . . . . .  21

                                      -ii-
<PAGE>
         5.8.10  General Information. . . . . . . . . . . . . . . . . . . . . . . . .  21
   5.9    Environment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  21
  5.10    Reimbursement of Lender Expenses. . . . . . . . . . . . . . . . . . . . . .  22

ARTICLE 6 - NEGATIVE COVENANTS. . . . . . . . . . . . . . . . . . . . . . . . . . . .  22
   6.1    Liens . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  22
   6.2    Debt. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  23
   6.3    Mergers or Reorganization . . . . . . . . . . . . . . . . . . . . . . . . .  23
   6.4    Leases. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  24
   6.5    Sale and Leaseback. . . . . . . . . . . . . . . . . . . . . . . . . . . . .  24
   6.6    Dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  24
   6.7    Sale of Assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  24
   6.8    Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  25
   6.9    Guaranties. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  25
  6.10    ERISA Plans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  25
  6.11    Transactions With Affiliates. . . . . . . . . . . . . . . . . . . . . . . .  25
  6.12    Change in Management. . . . . . . . . . . . . . . . . . . . . . . . . . . .  25
  6.13    Accounting. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  26
  6.14    Borrower's Legal Status . . . . . . . . . . . . . . . . . . . . . . . . . .  26

ARTICLE 7 - FINANCIAL COVENANTS . . . . . . . . . . . . . . . . . . . . . . . . . . .  26
   7.1    Debt Service Coverage Ratio . . . . . . . . . . . . . . . . . . . . . . . .  26
   7.2    Leverage Ratio. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  26
   7.3    Current Ratio . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  26
   7.4    Funded Debt Ratio . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  26

ARTICLE 8 - EVENTS OF DEFAULT . . . . . . . . . . . . . . . . . . . . . . . . . . . .  27
   8.1    Events of Default . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  27
   8.2    Cure of Event of Default. . . . . . . . . . . . . . . . . . . . . . . . . .  29

ARTICLE 9 - BANK'S RIGHTS AND REMEDIES. . . . . . . . . . . . . . . . . . . . . . . .  29
   9.1    Specific Remedies . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  29
   9.2    Set Off . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  30
   9.3    Cumulative Remedies . . . . . . . . . . . . . . . . . . . . . . . . . . . .  30
   9.4    Arbitration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  30
          9.4.1    Arbitration. . . . . . . . . . . . . . . . . . . . . . . . . . . .  30
          9.4.2    Governing Rules. . . . . . . . . . . . . . . . . . . . . . . . . .  30
          9.4.3    No Waiver of Provisional Remedies, Self-Help and Foreclosure . . .  31
          9.4.4    Arbitrator Qualifications and Powers . . . . . . . . . . . . . . .  31
          9.4.5    Discovery. . . . . . . . . . . . . . . . . . . . . . . . . . . . .  31
          9.4.6    Class Proceedings and Consolidations . . . . . . . . . . . . . . .  31
          9.4.7    Payment Of Arbitration Costs And Fees. . . . . . . . . . . . . . .  32
          9.4.8    Real Property Collateral . . . . . . . . . . . . . . . . . . . . .  32

                                      -iii-
<PAGE>
          9.4.9   Miscellaneous . . . . . . . . . . . . . . . . . . . . . . . . . . .  32

ARTICLE 10 - MISCELLANEOUS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  32
  10.1    Amendments, Etc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  32
  10.2    Notices, Etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  32
  10.3    No Waiver . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  33
  10.4    Successors and Assigns. . . . . . . . . . . . . . . . . . . . . . . . . . .  33
  10.5    Integration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  34
  10.6    Application of Payments . . . . . . . . . . . . . . . . . . . . . . . . . .  34
  10.7    Continuing Warranties, Representations and Covenants. . . . . . . . . . . .  34
  10.8    Indemnity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  34
  10.9    Choice of Law and Venue . . . . . . . . . . . . . . . . . . . . . . . . . .  34
 10.10    Severability of Provisions. . . . . . . . . . . . . . . . . . . . . . . . .  35
 10.11    Headings. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  35
 10.12    Jury Trial Waiver . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  35
 10.13    Destruction of Borrower's Documents . . . . . . . . . . . . . . . . . . . .  35
 10.14    Participations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  35
 10.15    Effective Date. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  36
 10.16    Counterparts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  36

</TABLE>

                                      -iv-
<PAGE>
                               TERM LOAN AGREEMENT

          THIS  TERM  LOAN  AGREEMENT  is  entered  into  as  of the 28th day of
October,  2002,  between  WELLS  FARGO  BANK,  NATIONAL ASSOCIATION ("Bank") and
AMERICAN  ECOLOGY  CORPORATION,  a  Delaware  corporation  ("Borrower").

          The  parties  agree  as  follows:

                                    AGREEMENT

          ARTICLE  1  -  DEFINITIONS  AND  ACCOUNTING  TERMS

          1.1     DEFINED  TERMS.

          As  used  in  this  Agreement,  the  following  terms  shall  have the
following  definitions  (terms  defined in the singular to have the same meaning
when  used  in  the  plural  and  vice  versa):

          "ADJUSTED  LIBOR  INTEREST RATE" means the rate per annum equal to the
quotient  of (i) the London Interbank Offered Rate divided by (ii) one (1) minus
the Eurocurrency Reserve Requirement for the applicable Interest Period, rounded
upward,  if  necessary,  to  the  nearest  one-sixteenth  of  one percent. "Euro
currency  Reserve Requirement" means, for any LIBOR Loan for any Interest Period
therefor,  the daily average of the stated maximum rate (expressed as a decimal)
at  which reserves (including any marginal, supplemental, or emergency reserves)
are  required  to  be  maintained  by  Bank  during  such  Interest Period under
Regulation D of the Board of Governors of the Federal Reserve System, as amended
or  supplemented  from time to time, against "Eurocurrency Liabilities" (as such
term  is  used  in  Regulation  D)  but  without benefit or credit of proration,
exemptions,  or  offsets  that might otherwise be available to Bank from time to
time  under  Regulation  D.  Without  limiting  the effect of the foregoing, the
Eurocurrency Reserve Requirement shall reflect any other reserves required to be
maintained  by  Bank  against  (i)  any  category  of  liabilities that includes
deposits  by reference to which the Adjusted LIBOR Interest Rate for LIBOR Loans
is to be determined; or (ii) any category of extension of credit or other assets
that  include  LIBOR  Loans.

          "AFFILIATE"  means any Person (1) who directly or indirectly controls,
or  is  controlled  by,  or  is  under common control with the Borrower; (2) who
directly  or  indirectly beneficially owns or holds five percent (5%) or more of
any  class  of voting stock of the Borrower; or (3) five percent (5%) or more of
the  voting  stock of which is directly or indirectly beneficially owned or held
by  the  Borrower.  The  term  "control"  means  the  possession,  directly  or
indirectly,  of the power to direct or cause the direction of the management and
policies  of  a  Person,  whether through the ownership of voting securities, by
contract,  or  otherwise.

TERM  LOAN  AGREEMENT  -  1
<PAGE>
          "AGREEMENT"  means this Term Loan Agreement, as amended, supplemented,
or  modified  from  time  to  time.

          "BANK"  means  Wells  Fargo Bank, National Association, its successors
and  assigns.  "BORROWER"  means  American  Ecology  Corporation,  a  Delaware
corporation.

          "BUSINESS  DAY" means a day other than Saturday or Sunday and a day on
which  commercial  banks  are  required to be open for business in Boise, Idaho,
under  the  laws  of the state of Idaho, and, if the applicable day relates to a
LIBOR  Loan,  Interest  Period, or notice with respect to a LIBOR Loan, a day on
which  dealings  in  Dollar deposits are also carried on in the London Interbank
market  and  banks  are  open  for  business  in  London.

          "COLLATERAL"  means and includes, without limitation, all property and
assets  granted  as  collateral  security  for  an  Obligation,  whether real or
personal  property,  whether granted directly or indirectly, whether granted now
or  in  the  future,  and  whether  granted  in the form of a security interest,
mortgage,  deed  of  trust, assignment, pledge, chattel mortgage, chattel trust,
factor's  lien,  equipment trust, conditional sale, trust receipt, lien, charge,
lien  or  title  retention contract, lease or consignment intended as a security
device,  or  any  other  security  or  lien interest whatsoever, whether created
bylaw,  contract, or otherwise. The Collateral includes, without limitation, all
of  Borrower's  now  owned  or  hereafter  acquired  equipment  and  fixtures.

          "COMMONLY  CONTROLLED  ENTITY"  means  an  entity,  whether  or  not
incorporated, that is under common control with a Borrower within the meaning of
Section  414(b)  or 414(c) of the Internal Revenue Code of 1986, as amended from
time  to  time,  and  the  regulations  and  published  interpretations thereof.

          "ENVIRONMENTAL  LAWS"  shall mean and include, without limitation, the
Resource  Conversation and Recovery Act of 1976 (RCRA), 42 USC 6901 et seq., the
Comprehensive  Environmental  Response,  Compensation  and Liability Act of 1980
(CERCLA)  42  USC  9601-  9657,  as  amended  by  the  Superfund  Amendments and
Reauthorization  Act  of  1986  (SARA),  the  Hazardous Materials Transportation
Authorization Act, 49 USC 5101 et seq., the Federal Water Pollution Control Act,
33 USC 1251 et seq., the Clean Air Act, 42 USC 741 et seq., the Clean Water Act,
33  USC  7401,  the  Toxic  Substances  Control  Act, 15 USC 2601-2629, the Safe
Drinking  Water  Act,  42 USC 300f-300j, and all amendments thereto, and legally
enforceable  rules, regulations, orders, and decrees promulgated thereunder, and
any  other  local, state and/or federal laws, rules, regulations and ordinances,
whether  currently in existence or hereafter enacted, that govern, to the extent
applicable  to  Borrower's businesses, properties and assets: (a) the existence,
cleanup  and/or  remedy  of contamination on property, (b) the protection of the
environment  from  soil,  air  or water pollution, or from spilled, deposited or
otherwise  emplaced  contamination;  (c)  the emission or discharge of Hazardous
Substances into the environment; (d) the control of Hazardous Substances; or (e)
the  use,  generation,  transport,  treatment,  removal or recovery of Hazardous
Substances.

TERM  LOAN  AGREEMENT  -  2
<PAGE>
          "ERISA"  means  the Employment Retirement Income Security Act of 1974,
as  the  same  may  be  amended or supplemented from time to time, including any
regulations  issued  in  connection  therewith.

          "EVENT OF DEFAULT" means the occurrence of any of the events set forth
in  Article  9  of  this  Agreement.

          "GAAP" means the generally accepted accounting principles set forth in
the  opinions  and  pronouncements  of  the  Accounting Principles Board and the
American  Institute  of  Certified  Public  Accountants  and  the statements and
pronouncements  of  the Financial Accounting Standards Board that are applicable
to  the  circumstances  as  of  the  date of determination consistently applied.

          "GUARANTOR"  means,  jointly  and  severally,  US  Ecology,  Inc.,  a
California  corporation,  Texas  Ecologists, Inc., a Texas corporation, American
Ecology  Recycle  Center,  Inc.,  a  Delaware  corporation,  American  Ecology
Environmental  Services  Corporation,  a  Texas  corporation,  American  Ecology
Management Corporation, a Delaware corporation, American Ecology Services Corp.,
a  Delaware  corporation,  and  US  Ecology Idaho, Inc., a Delaware corporation.

          "GUARANTY"  means  any  guaranty  of  the  Obligations  executed  by a
Guarantor.

          "HAZARDOUS  SUBSTANCE"  means  (a)  any  oil,  petroleum  pro  ducts,
flammable  substance,  explosives,  radioactive  materials,  hazardous wastes or
substances,  toxic  wastes  or  substances  or  any  other  wastes, materials or
pollutants that (i) pose a hazard to Borrower's owned or leased real property or
to  persons  on  or  about  such real property or (ii) cause Borrower's owned or
leased  real property to be in violation of any Environmental Laws; (b) asbestos
in  any form that is or could become friable, urea formaldehyde foam insulation,
transformers  or  other  equipment  that  contain  dielectric  fluid  containing
regulated  levels  of polychlorinated biphenyls, or radon gas; (c) any chemical,
material or substance defined as or included in the definition of "toxic waste,"
"hazardous  substances,"  "hazardous  wastes," "hazardous materials," "extremely
hazardous  waste,"  "restricted hazardous waste," or "toxic substances" or words
of similar import under any Environmental Laws; (d) any other chemical, material
or  substance,  exposure  to  which  is  prohibited, limited or regulated by any
governmental authority or agency or may or could pose a hazard to the health and
safety  of  the  occupants  of  Borrower's  owned or leased real property or the
owners  and/or  occupants  of  property  adjacent  to  or  surrounding such real
property  or  any  other  person  coming  upon  such  real  property or adjacent
property;  and  (e) any other chemical, materials or substance that may or could
pose  a hazard to the environment and are or become subject to regulation by any
Environmental  Laws.

          "INTEREST  PERIOD"  means  with  respect to any LIBOR Loan, the period
commencing on the date such loan is made and ending, as the Borrower may select,
pursuant  to  this Agreement, on the numerically corresponding day in the first,
second, third or sixth calendar month thereafter, except that each such Interest
Period  that  commences  on the last Business Day of a calendar month (or on any
day  for  which  there  is  no  numerically corresponding day in the appropriate
subsequent

TERM  LOAN  AGREEMENT  -  3
<PAGE>
calendar month) shall end on the last Business Day of the appropriate subsequent
calendar  month;  provided that if an Interest Period would end on a day that is
not  a Business Day, such Interest Period shall be extended to the next Business
Day  unless  such  Business  Day would fall in the next calendar month, in which
event  such Interest Period shall end on the immediately preceding Business Day.

          "LENDER  EXPENSES" means all costs and expenses reasonably incurred by
Bank  in  connection  with  the  preparation,  negotiation, execution, delivery,
filing,  and  administration  of  the  Loan  Documents,  and  of  any amendment,
modification, extension, renewal or supplement to the Loan Documents, including,
without  limitation,  the  fees  and out-of-pocket expenses of counsel for Bank,
incurred  in connection with advising Bank as to its rights and responsibilities
hereunder and structuring, drafting, reviewing, amending, or otherwise involving
the  Loan Documents, and all costs and expenses, including court costs, incurred
in  connection  with  enforcement  of  the  Loan  Documents,  or  any amendment,
modification,  or supplement thereto, whether by negotiation, legal proceedings,
or  otherwise.

          "LIBOR LOAN" means any loan under this Agreement bearing interest at a
rate  based  upon  Adjusted  LIBOR  Interest  Rate.

          "LIEN"  means  any mortgage, deed of trust, pledge, security interest,
hypothecation,  assignment, deposit arrangement, encumbrance, lien (statutory or
other),  or  preference,  priority,  or other security agreement or preferential
arrangement, charge, or encumbrance of any kind or nature whatsoever (including,
without limitation, any conditional sale or other title retention agreement, any
financing  lease  having  substantially  the  same economic effect as any of the
foregoing,  and  the  filing  of  any  financing  statement  under  the  Uniform
Commercial  Code  or  comparable  law of any jurisdiction to evidence any of the
foregoing).

          "Loan"  means  the  Term  Loan.

          "LOAN  DOCUMENTS" means collectively this Agreement, any note executed
by  Borrower to the order of Bank and any other agreements or documents, whether
now  or  hereafter  existing,  executed  or  delivered  in  connection with this
Agreement  or  any  amendment  thereto,  and  any  amendments,  supplements,
modifications,  renewals,  extensions,  or  refundings  of  any of the foregoing
documents.

          "LONDON  INTERBANK  OFFERED  RATE" means for any Interest Period for a
LIBOR  Loan the rate per annum quoted at approximately 11:00 a.m. London time by
Bank  two  Business  Days prior to the first day of such Interest Period for the
offering  to leading banks in the London interbank market of dollar deposits for
a period and an amount comparable to the Interest Period and principal amount of
the  LIBOR  Loan  that shall be made by Bank and outstanding during the Interest
Period.

          "MULTIEMPLOYER  PLAN" means a Plan described in Section 4001 (a)(3) of
ERISA.

TERM  LOAN  AGREEMENT  -  4
<PAGE>
          "OBLIGATIONS"  means  any  and  all  loans, lines of credit, advances,
letter  of  credit  obligations,  debts,  overdrafts, liabilities, indebtedness,
lease  payments,  guaranties, covenants, and duties owing by Borrower to Bank of
any  kind and description (whether advanced pursuant to or evidenced by the Loan
Documents  or  any other instrument or agreement between Bank and Borrower), any
debt,  liability,  or  obligation owing by Borrower to others that Bank may have
obtained  by assignment or otherwise, any interest not paid when due, all Lender
Expenses,  and  all renewals, extensions, and modifications of the foregoing, or
any  part thereof, whether direct or indirect, absolute or contingent, due or to
become  due,  now  existing  or  hereafter  arising.

          "PBGC"  means  the  Pension Benefit Guaranty Corporation or any entity
succeeding  to  any  or  all  of  its  functions  under  ERIS  A.

          "PERMITTED  LIENS"  shall  have  the  meaning assigned to such term in
Section  6.1  o  f  this  Agreement.

          "PERSON"  means  an  individual,  partnership,  corporation,  business
trust,  joint  stock  company, trust, unincorporated association, joint venture,
governmental  authority,  or  other  entity  of  whatever  nature.

          "PLAN" means any pension plan that is covered by Title IV of ERISA and
in  respect  of  which  any  Borrower  or  a  Commonly  Controlled  Entity is an
"employer"  as  defined  in  Section  3(5)  of  ERISA.

          "PRIME LOAN" means any loan under this Agreement bearing interest at a
rate  based  upon  the  Prime  Rate.

          "PRIME  RATE"  means the Bank's announced rate of interest referred to
as  its  prime  rate  used as a reference point from which the cost of credit to
customers  may  be  calculated. The Prime Rate is subject to change from time to
time. The Prime Rate is not intended to be the lowest rate of interest charge by
the  Bank  to  its  borrowers,  and Bank may make loans to other Persons bearing
interest  at,  above,  or  below  the  Prime  Rate.

          "PROHIBITED  TRANSACTION"  means  any transaction set forth in Section
406  of ERISA  or  Section 4975 of the Internal Revenue Code of 1986, as amended
from  time  to  time, and the regulations and published interpretations thereof.

          "REPORTABLE  EVENT"  means any of the events set forth in Section 4043
of  ERISA.

          "SECURITY  AGREEMENT"  MEANS THE Security Agreement to be delivered to
Bank  by  the  Borrower  pursuant  to  Subsection  3.1.2  of  this  Agreement.

          "SUBSIDIARY"  means, as to the Borrower, a corporation of which shares
of  stock  having ordinary voting power (other than stock having such power only
by  reason  of  the  happening

TERM  LOAN  AGREEMENT  -  5
<PAGE>
of  a  contingency)  to  elect  a  majority  of  the board of directors or other
managers  of  such corporation are at the time owned, or the management of which
is  otherwise  controlled,  directly,  or  indirectly  through  one  or  more
intermediaries,  or  both,  by  the  Borrower.

          "TERM  LOAN"  shall  have the meaning assigned to such term in Section
2.1  of  this  Agreement.

          "TERM LOAN MATURITY DATE" means November 1,2007, or such other date as
Bank  and  Borrower  may  agree  upon  in  writing  from  time  to  time.

          "TERM  NOTE"  means the promissory note described in Subsection 2.1.3.

          1.2  ACCOUNTING  TERMS.

          All  accounting terms not specifically defined in this Agreement shall
be  construed  in  accordance  with  GAAP  consistent  with those applied in the
preparation  of  the  financial  statements  referred to in Section 4.4, and all
financial  data  submitted  pursuant  to  this  Agreement  shall  be prepared in
accordance  with  GAAP.

                     ARTICLE 2 - LOANS AND TERMS OF PAYMENT

          2.1  TERM  LOAN.  Bank  shall,  on  the  terms  and conditions of this
Agreement  and  as long as no Event of Default has occurred, make a term loan to
Borrower  in  the  principal  amount  not  to  exceed  Seven  Million  Dollars
($7,000,000)  (the  "Term  Loan").

               2.1.1  INTEREST.  The  Term Loan shall be a Prime Loan or a LIBOR
Loan,  or  a combination thereof, as selected by Borrower in accordance with the
terms  of  this  Agreement.

                    2.1.1.1  That  portion of the Term Loan that is a Prime Loan
shall  bear  interest  at  a  fluctuating per annum rate equal to the Prime Rate
increased  by the applicable Prime Margin set forth below. Bank's Prime Rate may
change from time to time, and the interest payable will continue to fluctuate at
the  rate as stated herein. Any changes to the Prime Rate shall become effective
without  prior  notice  to Borrower on the date on which the Prime Rate changes.

                    2.1.1.2  That  portion of the Term Loan that is a LIBOR Loan
shall  bear interest at a fluctuating per annum rate equal to the Adjusted LIBOR
Interest  Rate  for  the  applicable  Interest  Period, as quotes are available,
increased by the applicable LIBOR Margin set forth below. For any portion of the
Term  Loan  that  is to be a LIBOR Loan, the Borrower shall request such a LIBOR
Loan by delivering a LIBOR Loan Request to Bank no later than 11:00 a.m. (Boise,
Idaho  time)  at  least two (2) Business days prior to the requested date of the
LIBOR  Loan.  A  LIBOR  Loan Request shall specify (a) the date of the requested
LIBOR Loan, (b) the amount of such LIBOR Loan, and (c) the requested duration of
the  Interest  Period for the LIBOR Loan, and shall be in substantially the form
of  the  attached  EXHIBIT  2.1.1.2.

TERM  LOAN  AGREEMENT  -  6
<PAGE>
                    2.1.1.3  The  Prime  Margins  and  the  LIBOR Margins are as
follows:

                Funded  Debt  Ratio             Prime    LIBOR
     -----------------------------------------  ------   -----
     less than 1.00:1.00                          0.0%   2.00%
     -----------------------------------------  ------   -----
     less than 2.00: 1.00 but greater than
     or  equal  to 1.00:1.00                    0.125%   2.25%
     -----------------------------------------  ------   -----
     less than 3.00:1.00 but greater than
     or equal to 2.00:1.00                       0.25%   2.50%
     -----------------------------------------  ------   -----
     less than 3.50:1 .00 but greater than
     or equal to 3.00:1.00                       0.50%   2.75%
     -----------------------------------------  ------   -----
     less than or equal to 4.00: 1.00 but
     greater than or greater than or equal
     to 3.50:1.00                                1.00%   3.25%
     -----------------------------------------  ------   -----
     greater than 4.00: 1.00                     1.00%*  3.25%*
     -----------------------------------------  ------   -----
          *Plus  increase  for  an  Event of Default pursuant to Section 2.5, if
           applicable.

                    2.1.1.4  The  Prime  Margin  and LIBOR Margin shall be based
upon  the Borrower's Funded Debt Ratio (defined in paragraph 2.1.1.5) determined
on  a  rolling  four  quarter  basis  from  the  Borrower's financial statements
delivered  to  Bank  and  adjusted, if necessary, on the first day of the second
month  after  Bank's  receipt of financial statements that show an adjustment is
necessary.

                    2.1.1.5  Borrower's  Funded Debt Ratio shall be the ratio of
Borrower's  Funded  Debt to EBITDA. The term "Funded Debt" shall mean, as of the
date of determination as applied to Borrower, the sum of (i) all indebtedness of
Borrower owing to third parties for money borrowed, including capitalized leases
of  Borrower  having  a  final maturity of one (1) year or more from the date of
creation  (including  that  portion  of  the  principal of such indebtedness due
within  one (1) year from the date of such determination), (ii) any indebtedness
of the Borrower having a final maturity within one (1) year from such date which
may  be  renewed or extended at the option of the Borrower for more than one (1)
year  from  such  date, (iii) the outstanding balance of the Revolving Loans (as
defined  in  the  Credit  Agreement  between Borrower and Bank, dated August 17,
2000),  (iv)  all obligations for the deferred purchase price of any property or
assets,  including,  without  limitation,  operating  leases  for  such  purpose
(excluding  trade  payables),  (v)  all  obligations  for  deferred closure/post
closure, and (vi) all obligations of Borrower created or arising with respect to
property  or assets acquired under any conditional sales contract or other title
retention  agreement  or  incurred  as  financing, less the amount of Borrower's
short  term investments as of the date of determination. The term "EBITDA" shall
mean,  for  any  period, as applied to Borrower, the sum of Borrower's earnings,
excluding  any  extraordinary  and  nonoperating  income,  before  (a)  interest
expense,  (b)  depreciation, (c) dividends, (d) taxes, (e) amortization, and (f)
other  noncash  charges.

               2.1.2  REPAYMENT.  Borrower shall pay the Term Loan in 60 regular
principal payments in the amount of $116,666.67 each. Borrower's first principal
payment is due December 1, 2002, and all subsequent payments are due on the same
day of each month after that. In addition, interest accrued on Prime Loans shall
be  paid  on  or  before  the  10th  day  of  each  month

TERM  LOAN  AGREEMENT  -  7
<PAGE>
in an amount equal to the interest accrued as of the last day of the immediately
preceding  month,  beginning  December 10, 2002. Interest accrued on LIBOR Loans
shall  be  paid on the last day of the Interest Period with respect thereto and,
in the case of an Interest Period greater than three months (if such an Interest
Period  is  permitted  under this Agreement), at three month intervals after the
first  day  of  such  Interest  Period.  All  outstanding  principal and accrued
interest  of the Term Loan shall be paid in full on the Term Loan Maturity Date.

               2.1.3 TERM NOTE. The Term Loan shall be evidenced by a promissory
note of the Borrower in the stated principal amount of the Term Loan executed by
Borrower  substantially  in  the  form  OF  EXHIBIT  2.1.3  (the  "Term  Note").

               2.1.4 ORIGINATION FEE. Borrower shall pay Bank an origination fee
for  the  Term Loan in the amount of Thirty-five Thousand Dollars ($35,000). The
origination fee shall be paid on the date of this Agreement. The origination fee
is  an  unconditional  payment  to  Bank in consideration of Bank's agreement to
extend  financial  accommodations  to  Borrower  pursuant  to  this  Agreement.

               2.1.5  USE  OF  PROCEEDS.  The proceeds of the Term Loan shall be
used  by  the  Borrower  to  refinance  a  portion of the Industrial Development
Corporation of Owyhee County, Idaho Industrial Development Revenue Bonds, Series
1994 (Envirosafe Services of Idaho, Inc. Project) $8,500,000. The Borrower shall
not,  directly  or  indirectly, use any part of such proceeds for the purpose of
purchasing  or  carrying  any margin stock within the meaning of Regulation U of
the  Board of Governors of the Federal Reserve System or to extend credit to any
person  for  the purpose of purchasing or carrying any such margin stock, or for
any  purpose  that violates, or is inconsistent with, Regulation X of such Board
of  Governors.

          2.2  METHOD  OF  PAYMENT.  All  payments  shall be made to Bank at its
Regional  Corporate Banking office in Boise, Idaho in lawful money of the United
States  in  immediately  available  funds.  Bank  shall  send Borrower a monthly
statement  of  the  amount  of  interest  accrued during the preceding month. No
checks,  drafts,  or  other  instruments  received  by  Bank  purportedly  in
satisfaction  of  any of the Obligations shall constitute payment thereof unless
and  until  such instruments have actually been collected. All payments received
after 11:00 a.m. Boise, Idaho time shall be considered to have been received the
next  Business  Day.  The  Borrower  authorizes  the  Bank, if and to the extent
payment  is  not  made  when due under any Loan Document, to charge from time to
time  against  any  account  of the Borrower with the Bank any amount so due. In
case the due date of any payment falls on a day that is not a Business Day, such
payment  shall  instead  be  due  the next succeeding Business Day, and interest
shall  continue to accrue. Bank may note the date, amount and interest rate (and
Interest  Period  with  respect to LIBOR Loans) of each Prime and LIBOR Loan and
each  payment  of principal and interest with respect hereto in Bank's books and
records  (either  manually  or  by  electronic  entry),  which notation shall be
conclusive  evidence  of  the  information  noted, absent manifest error. Unless
otherwise  agreed  or required by applicable law, payments will be applied first
to  any  unpaid  collection  costs  and  any  late  charges,  then to any unpaid
interest,  and  any  remaining  amount  to  principal.

TERM  LOAN  AGREEMENT  -  8
<PAGE>
          2.3  PREPAYMENTS.  The  Borrower  may  prepay  any  or all Prime Loans
without penalty or premium. A LIBOR Loan may be prepaid in whole or in part only
on the last day of the Interest Period for such LIBOR Loan, unless Borrower pays
to  Bank  the  prepayment  funding loss indemnification pursuant to Section 2.8.
Each  partial  prepayment shall be applied to the Term Loan payment installments
in  the  inverse  order  of  their  due  date.

          2.4  LATE  CHARGES  AND DEFAULT INTEREST. If Bank has not received the
full  amount  of  any payment by the end of fifteen (15) calendar days after the
date  due,  including  the  balance  due  at maturity, Borrower shall pay a late
charge  to  Bank  in  the  amount of five percent (5%) of the overdue payment of
principal and/or interest. Borrower shall pay the late charge promptly, but only
once  on each late payment. In addition to any late charges that may be assessed
as  herein  provided,  the  outstanding  balance  of  the  Term  Loan  after the
occurrence  of  an  Event  of Default shall accrue interest from the date of the
Event  of  Default  at the rate equal to four (4) percentage points per annum in
excess  of  the  interest  rate  that  would otherwise be charged if no Event of
Default  existed.  If  Bank  shall  waive in writing or Borrower shall cure such
Event  of  Default,  the interest rate shall revert to the non-default rate from
and  after  such  waiver or completion of such cure, until another such Event of
Default.

          2.5  ADDITIONAL  INTEREST  RATE  PROVISIONS.

               2.5.1 If Bank shall have determined (which determination shall be
conclusive and binding) that for any reason adequate and reasonable means do not
exist  for ascertaining the Adjusted LIBOR Interest Rate for any or all Interest
Periods,  Bank  shall give notice of such determination to the Borrower. If such
notice is given, and until such notice has been withdrawn by Bank, no additional
LIBOR  Loans  for  such  Interest  Periods  shall  be  made  and  no  additional
conversions  of  Prime  Loans  to LIBOR Loans for such Interest Periods shall be
permitted,  and  at  the  end of the Interest Period relating to any outstanding
LIBOR  Loans  such  loans  shall  become  Prime  Loans.

               2.5.2  Notwithstanding  any  other provisions herein, if any law,
treaty,  rule  or  regulation, or determination of a court or other governmental
authority,  or  any  change  therein  or  in  the  interpretation or application
thereof,  shall  make  it  unlawful  for Bank to make or maintain LIBOR Loans as
contemplated  by  this Agreement, the obligation of Bank hereunder to make LIBOR
Loans  shall  forthwith  be  canceled,  and,  if  required, each LIBOR Loan then
outstanding  shall  immediately  become  a  Prime  Loan.

               2.5.3  In the event that any adoption or modification of any law,
treaty,  rule,  or regulation, or determination of a court or other governmental
authority,  or  that  any  change  in the interpretation or application thereof,
which  adoption, modification or change becomes effective after the date hereof,
or  in  the  event  that compliance by Bank with and request or directive issued
after  the  date  hereof  (whether  or  not  having  the  force of law) from any
governmental  authority:

TERM  LOAN  AGREEMENT  -  9
<PAGE>

               (A)  does  or shall subject Bank or any of its foreign offices to
any  tax  of  any kind whatsoever with respect to the Loan Documents, or changes
the  basis  of taxation of payments to Bank of principal, interest, fees, or any
other  amount  payable  hereunder  (except for changes in the rate of tax on the
overall  net  income  of  Bank);  or

               (B) does or shall impose, modify, or hold applicable any reserve,
special deposit, compulsory loan, FDIC insurance, or similar requirement against
assets held by, deposits or other liabilities in or for the account of, advances
or  loans  by, other credit extended by or any other acquisition of funds by any
office  of  Bank  (other  than  to  the  extent previously taken into account in
determining  the  Prime  Rate  or  statutory  reserves);  or

               (C)  does  or  shall  impose on Bank any other condition; and the
result  of  any  of  the  foregoing  is  to increase the cost to Bank of making,
renewing, or maintaining the loans hereunder, or to reduce any amount receivable
thereunder  or  under  any  of  the  Loan Documents; then, in any such case, the
Borrower  shall promptly pay to Bank, upon demand, such amount or amounts as may
be  necessary  to  compensate  Bank  for  any  additional cost or reduced amount
received.  Bank  shall deliver to the Borrower a written statement of the losses
or expenses sustained or incurred, and any reasonable allocation made by Bank of
such  losses and expenses shall be conclusive, absent manifest error. Bank shall
promptly  notify  the Borrower of any event of which it has knowledge, occurring
after the Closing Date, which event will entitle Bank to compensation under this
Section.

                    2.5.4  The  actual  interest  to be charged on the Term Loan
shall  be  calculated  daily on the outstanding balance for the actual number of
days  elapsed  on the basis of a year consisting of 360 days. Should the rate of
interest exceed that allowed by law, the applicable rate of interest will be the
maximum  rate  of interest lawfully allowed. The principal amount outstanding on
which  the interest rate(s) shall be charged shall be determined from the Bank's
records,  which  shall  at  all  times  be  conclusive,  absent  manifest error.

          2.6  LIBOR  LOAN  EXTENSIONS  AND  CONVERSIONS. So long as no Event of
Default  has  occurred and is continuing and subject to the terms and conditions
hereof,  the Borrower may extend a LIBOR Loan beyond its current Interest Period
by  giving  Bank  a  LIBOR Loan Request for the extension. The Borrower may also
convert any Prime Loan into a LIBOR Loan by giving Bank a LIBOR Loan Request for
the  conversion.  Unless  Bank  receives  notice  of  a  proposed  extension  or
conversion as and when required hereunder, then at the end of an Interest Period
for  a  LIBOR  Loan such LIBOR Loan shall automatically convert to a Prime Loan.

          2.7  MINIMUM  LIBOR  LOAN  REQUIREMENTS. Each LIBOR Loan shall be in a
minimum  amount  of  One  Million Dollars ($1,000,000). No part of the Term Loan
shall  be made as, extended as, or converted into, a LIBOR Loan with an Interest
Period  that ends after the Term Loan Maturity Date. No more than four (4) LIBOR
Loans  shall  be  outstanding  at  one  time.

TERM  LOAN  AGREEMENT  -  10
<PAGE>
          2.8  FUNDING  LOSS  INDEMNIFICATION.  The Borrower shall indemnify and
hold  Bank  free  and  harmless  from  any  loss  or  expense (including without
limitation  any  loss  or  expense  incurred  by  reason  of  the liquidation or
redeployment of deposits or other funds acquired by Bank to fund or maintain any
LIBOR  Loan)  that  Bank  may incur as a result of (i) the Borrower's failure to
make  a  borrowing,  conversion, or extension with respect to a LIBOR Loan after
making  a request therefor; (ii) a prepayment (whether optional or mandatory) of
a LIBOR Loan prior to the expiration of a related Interest Period, and (iii) the
conversion  of  a  LIBOR  Loan  as  a  result  of any of the events indicated in
paragraph  2.5.2.  At  the  election  of  Bank such losses shall be conclusively
deemed  to  consist  of  an  amount  equal  to:

               (i)  The interest that would have been received from the Borrower
on  the  amounts  during  the  Interest  Period (or remaining portion thereof in
question) had the Borrower not prepaid, repaid, or failed to borrow, convert, or
extend,  such  funds,  as  the  case  may  be,  minus

               (ii)  The return that Bank could have obtained had it placed such
funds  on  deposit  in  the interbank dollar market selected by Bank in its sole
discretion  on  the  date  of  such  prepayment, repayment or failure to borrow,
convert,  or  extend  as the case may be, and such funds had remained on deposit
until  the  end  of  the  applicable  Interest  period.

          2.9  TAXES  ON  PAYMENTS.  All  payments  made  by Borrower under this
Agreement  and  the  other  Loan  Documents shall be made free and clear of, and
without  deduction  or  withholding  for or on account of, any present or future
income, stamp or other taxes, levies, imposts, duties, charges, fees, deductions
or withholdings ("Taxes"), now or hereafter imposed, levied, collected, withheld
or assessed by any governmental authority (except net income taxes and franchise
taxes  in  lieu  of net income taxes imposed on Bank as a result of a present or
former  connection  between  the  jurisdiction  of  the  governmental  authority
imposing  such  tax  on  Bank,  excluding  a connection arising solely from Bank
having  executed,  delivered, or performed its obligations or received a payment
under,  or  enforced,  this Agreement or the other Loan Documents). If any Taxes
are  required  to  be  withheld  from any amounts payable to Bank under any Loan
Document,  the  amounts  so  payable  to  Bank  shall be increased to the extent
necessary  to  yield  to  Bank (after payment of all Taxes) interest or any such
other amounts payable hereunder at the rates or in the amounts specified in this
Agreement  and  the  other  Loan  Documents.

          2.10  GRANT OF SECURITY INTEREST. Borrower grants to Bank a continuing
security  interest  in  the  Collateral,  including  all  proceeds  and products
thereof,  in  order  to  secure  prompt  repayment of the Obligations and prompt
performance  by  Borrower of each and all of its covenants and obligations under
this  Agreement  and  the  other Loan Documents. Bank's security interest in the
Collateral  shall  be further evidenced by the Security Agreement and such other
security  documents  as  Bank  may  at  any  time  require.

          2.11  FINANCING  STATEMENTS.  Borrower  authorizes Bank to file in any
jurisdiction  any initial financing statements and amendments thereto describing
the Collateral and containing any other information required for the sufficiency
or  filing  office  acceptance  of  any  financing  statement

TERM  LOAN  AGREEMENT  -  11
<PAGE>
or  amendment.  Borrower  shall  from  time to time, at the expense of Borrower,
promptly  execute,  if  applicable,  and  deliver  all  further  instruments and
documents,  and  take  all further action, that maybe necessary or desirable, or
that  Bank  may  reasonably request, in order to perfect and protect any pledge,
assignment,  or security interest granted or purported to be granted by any Loan
Document or to enable Bank to exercise and enforce its rights and remedies under
any  Loan  Document  with  respect  to  any  Collateral.  Without  limiting  the
generality of the foregoing, the Borrower shall execute, if applicable, and file
such financing or continuation statements, or amendments thereto, and such other
instruments  or  notices,  as  may  be  necessary  or  desirable, or as Bank may
request,  in  order to perfect and preserve the pledge, assignment, and security
interest  granted  or  purported  to  be  granted by any Loan Document. Borrower
irrevocably  makes,  constitutes, and appoints Bank (and any of Bank's officers,
employees,  or agents designated by Bank) as Borrower's true and lawful attorney
with power, upon Borrower's failure or refusal to comply with their undertakings
contained  in  this  paragraph,  to  sign  the  name  of  Borrower on any of the
above-described  documents  or  on  any  other similar documents that need to be
executed,  recorded,  and/or  filed  in  order  to  perfect  or  continue Bank's
perfected  security  interest  in  the  Collateral

                        ARTICLE 3 - CONDITIONS PRECEDENT

          3.1 DOCUMENTS REQUIRED FOR THE CLOSING. The obligation of Bank to make
the  Term  Loan to the Borrower under this Agreement is subject to the condition
precedent  that  Bank  shall  have received on or before the disbursement of the
Term  Loan each of the following documents in form and substance satisfactory to
Bank  and  its  legal  counsel:

               3.1.1  TERM  NOTE.  The  Term  Note  executed  by  the  Borrower.

               3.1.2 SECURITY AGREEMENT. The Security Agreement in substantially
the form of Exhibit 3.1.2 executed by Borrower, together with allUCC-1 financing
statements  desirable  in  the  opinion of Bank to perfect the security interest
created  by  the  Security  Agreement.

               3.1.3  GUARANTOR  SECURITY  AGREEMENTS.  A  security agreement in
substantially  the  form  of EXHIBIT 3.1.3 executed by each of US Ecology Idaho,
Inc.,  Texas  Ecologists,  Inc.,  and  US  Ecology, Inc. together with all UCC-1
financing  statements  desirable  in the opinion of Bank to perfect the security
interest  created  by  the  security  agreements.

               3.1.4  OPINION OF COUNSEL FOR BORROWER AND GUARANTOR. A favorable
opinion  of  counsel  for  Borrower  and Guarantor, in substantially the form OF
EXHIBIT  3.1.4  and  as  to  such  other matters as Bank may reasonably request.

               3.1.5  EVIDENCEOF  ALL  CORPORATE  ACTION  BY BORROWER. Certified
copies  of  all corporate action taken by Borrower authorizing its execution and
delivery  of the Loan Documents and each other document to be delivered pursuant
to  this  Agreement  and  its  performance  of  its  agreements  thereunder.

TERM  LOAN  AGREEMENT  -  12
<PAGE>
               3.1.6  CERTIFICATES  OF  EXISTENCE  FOR BORROWER. Certificates of
existence  or  good standing showing that the Borrower is in good standing under
the  laws  of  the  state  of  its  incorporation.

               3.1.7 ARTICLES OF INCORPORATION AND BYLAWS OF BORROWER. Copies of
the  articles of incorporation and bylaws of Borrower certified by an officer of
Borrower  to  be  true  and  correct.

               3.1.8  EVIDENCE  OF ALL CORPORATE ACTION BY GUARANTORS. Certified
copies  of  all  corporate action taken by each of US Ecology Idaho, Inc., Texas
Ecologists, Inc., and US Ecology, Inc. authorizing its execution and delivery of
its  new  Security  Agreement  and the performance of its agreements thereunder.

               3.1.9  CERTIFICATES  OF  EXISTENCE FOR GUARANTOR. Certificates of
existence or good standing showing that each Guarantor is in good standing under
the  laws  of  the  state  of  its  incorporation.

               3.1.10  ARTICLES OF INCORPORATION AND BYLAWS OF GUARANTOR. Copies
of  the  articles  of incorporation and bylaws of each Guarantor certified by an
officer  of  the  Guarantor  to  be  true  and  correct.

               3.1.11  CERTIFICATES  OF  ASSUMED  BUSINESS  NAME.  Copies of all
certificates  of  assumed  business  name,  if  any,  filed  by  Borrower or any
Guarantor.

               3.1.12  APPRAISALS.  An  appraisal or appraisals of the equipment
and  fixtures  pledged  to  Bank by US Ecology Idaho, Inc. and Texas Ecologists,
Inc.  issued  by  an  appraiser  acceptable  to  Bank.

          3.2  GENERAL  CONDITIONS PRECEDENT. The obligation of Bank to make the
Term  Loan  to  the  Borrower  under  this Agreement is subject to the following
additional  conditions  precedent:

               3.2.1  NO  MATERIAL  ADVERSE  CHANGE.  No material adverse change
shall  have  occurred  in  the  financial condition of Borrower or the assets of
Borrower or any Guarantor since the date of the most recent financial statements
submitted to Bank by Borrower. No material decline, as determined by Bank, shall
have  occurred  in  the market value of any Collateral covered by the appraisals
required  by  Subsection  3.1.13.

               3.2.2  FINANCIAL  STATEMENTS. Borrower has submitted to Bank when
required  by  this  Agreement  all financial statements required to be submitted
hereunder  and such financial statements were at the time they were submitted to
Bank  and  at  the  time  of  the  Closing  a true and correct reflection of the
financial  condition  of  Borrower.

TERM  LOAN  AGREEMENT  -  13
<PAGE>
               3.2.3  REPRESENTATIONS AND WARRANTIES. All of Borrower's and each
Guarantor's  representations  and  warranties  in  this  Agreement  and the Loan
Documents  are true and correct as of the date of disbursement of the Term Loan.

               3.2.4  FINANCIAL COVENANTS. Borrower is in Ml compliance with all
financial  covenants  contained  in  this  Agreement.

               3.2.5  EVIDENCE  OF  INSURANCE.  Bank  receives  evidence  of the
insurance  Borrower  must  maintain  in  accordance  with  the  Loan  Documents.

               3.2.6  PUBLIC  RECORD  SEARCHES. Bank receives Uniform Commercial
Code  financing  statement searches, federal and state income tax lien searches,
judgment  searches,  or other similar searches on Borrower and any other Persons
that  Bank  may  require  and  in  such  form  as  Bank  may  require.

               3.2.7  PAYMENT  OF  ORIGINATION FEE. Bank receives payment of the
origination  fee  as  required  by  Section  2.1.6  of  this  Agreement.

               3.2.8  ADDITIONAL  DOCUMENTS.  Bank  receives  such  additional
approvals,  opinions,  or  documents  as  Bank  may  reasonably  request.

                   ARTICLE 4 - REPRESENTATIONS AND WARRANTIES

          In  order  to induce the Bank to enter into this Agreement and to make
the  loans  as  provided  in  this  Agreement,  the Borrower makes the following
representations  and  warranties  to  the Bank, which shall survive execution of
this  Agreement:

          4.1  ORGANIZATION,  GOOD STANDING, AND DUE QUALIFICATION. Borrower was
organized under the Delaware General Corporation Law and exists in good standing
under  the  laws  of  the  jurisdiction of its organization with power under the
Delaware  General Corporation Law to own or lease its assets and to transact the
business  in  which  it  is  now  engaged or proposed to be engaged. Borrower is
qualified  to  transact business as a foreign corporation in good standing under
the  laws  of  each  other jurisdiction in which such qualification is required.
Each  of  Borrower's  Subsidiaries  and  each  Guarantor was organized under the
general  business  corporation  law  of the jurisdiction of its organization and
exists  in  good standing under the laws of the jurisdiction of its organization
with  power  under  the general business corporation law of such jurisdiction to
own  or lease its assets and to transact the business in which it is now engaged
or proposed to be engaged. Each of Borrower's Subsidiaries and each Guarantor is
qualified  to  transact business as a foreign corporation in good standing under
the  laws  of  each  other jurisdiction in which such qualification is required.

TERM  LOAN  AGREEMENT  -  14
<PAGE>
          4.2  POWER  AND  AUTHORITY.  Borrower has authorized the execution and
delivery of the Loan Documents to which it is a party and the performance of its
agreements  thereunder  by  all  necessary  corporate  action under the Delaware
General  Corporation  Law.  Each  Guarantor  has  authorized  the  execution and
delivery of the Loan Documents to which it is a party and the performance o fits
agreements  thereunder  by  all  necessary  corporate  action  under the general
business corporation law of the jurisdiction of its organization. Borrower's and
each  Guarantor's  execution and delivery of the Loan Documents to which it is a
party  and the performance of its respective obligations thereunder will not (1)
require any consent or approval of the shareholders of Borrower or the Guarantor
that  has  not  been  obtained;  (2)  violate  Borrower's  or  the  Guarantor's
certificate  or articles of incorporation (however denominated); (3) violate any
provision  of  any  law,  rule,  regulation,  order, writ, judgment, injunction,
decree,  determination,  or  award  presently  in effect having applicability to
Borrower  or  the  Guarantor;  (4) result in a breach of or constitute a default
under  any  indenture or loan or credit agreement or any other agreement, lease,
or  instrument to which Borrower or a Guarantor is a party or by which it or its
properties  may  be  bound  or affected; or (5) cause Borrower or a Guarantor to
violate  any  such  law,  rule,  regulation,  order, writ, judgment, injunction,
decree,  determination,  or  award  or  be  in default under any such indenture,
agreement,  lease,  or  instrument.

          4.3  LEGALLY ENFORCEABLE AGREEMENT. This Agreement is, and each of the
other  Loan  Documents  to  which  Borrower is a party when delivered under this
Agreement  will  be,  legal,  valid,  and  binding  obligations of the Borrower,
enforceable  against  the  Borrower,  in accordance with their respective terms,
except  to  the  extent  that  such  enforcement  may  be  limited by applicable
bankruptcy,  insolvency,  and  other  similar  laws  affecting creditors' rights
generally. Each Guaranty and other Loan Document to which a Guarantor is a party
when  delivered  under  this  Agreement  will  be  the legal, valid, and binding
obligation  of  the  applicable  Guarantor, enforceable against the Guarantor in
accordance  with  their  terms, except to the extent that such enforcement maybe
limited  by  applicable bankruptcy, insolvency, and other similar laws affecting
creditors'  rights  generally.

          4.4  FINANCIAL  STATEMENTS.  All  financial statements and information
relating  to  Borrower,  any  Subsidiary,  any  Affiliate  of  Borrower, and any
Guarantor  that  have  been  delivered  by  Borrower  or a Guarantor to Bank are
complete  and  correctly  and  fairly  present  the  financial  condition of the
Borrower,  the  Subsidiary,  the  Affiliate  of  Borrower,  or the Guarantor, as
applicable, as of the date of such statements and information and the results of
the  operations  of  the Borrower and the affiliates of Borrower for the periods
covered  by  such  statements,  all in accordance with GAAP (subject to year-end
adjustments  in the case of the interim financial statements). There has been no
material  adverse change in the financial condition of Borrower, an Affiliate of
Borrower,  or  a Guarantor since the date of the most recent o f such applicable
financial  statements submitted to Bank. There are no liabilities of Borrower, a
Subsidiary,  or  a Guarantor, fixed or contingent, that are material but are not
reflected  in  the  financial  statements  or  in  the notes thereto, other than
liabilities  arising  in  the  ordinary course of business since the date of the
most  recent  of  such  applicable  financial  statements  submitted to Bank. No
information,  exhibit,  or  report  furnished  by  the  Borrower  to the Bank in
connection  with  the  negotiation  of  this  Agreement  contained  any material
misstatement  of

TERM  LOAN  AGREEMENT  -  15
<PAGE>
fact  or  omitted  to  state  a  material fact or any fact necessary to make the
statement  contained  therein  not  materially  misleading.

          4.5  LABOR  DISPUTES AND CASUALTIES. Except as disclosed in Borrower's
Forms  10K  and 10Q filed with the Securities and Exchange Commission and copies
of  which have been delivered to Bank, neither the businesses nor the properties
of  the  Borrower  or  any Subsidiary or any Guarantor are affected by any fire,
explosion,  accident,  strike,  lockout, or other labor dispute, drought, storm,
hail, earthquake, embargo, act of God, or other casualty (whether or not covered
by  insurance), materially and adversely affecting such businesses or properties
or  the  operation  of  the  Borrower  or  the  Subsidiary  or  the  Guarantor.

          4.6  OTHER  AGREEMENTS.  No  event has occurred and is continuing that
constitutes  or  that,  with  the giving of notice or the lapse of time or both,
could  constitute,  an  event  of  default  or  a default under any agreement or
guaranty  to  which  the Borrower or any Subsidiary or any Guarantor is a party,
and  no  such  event  will  occur  upon  the  making  of  the  loans  hereunder.

          4.7 NO LITIGATION. Except as disclosed in Borrower's Forms 10K and 10Q
filed  with the Securities and Exchange Commission and copies of which have been
delivered to Bank, there is no pending action or proceeding against or affecting
the  Borrower  or any Subsidiary or any Guarantor before any court, governmental
agency,  or  arbitrator, that would have a reasonable possibility to, in any one
case  or  in the aggregate, materially adversely affect the financial condition,
operations,  properties,  or  business  of  the  Borrower  or the ability of the
Borrower or any Subsidiary or any Guarantor to perform its obligations under the
Loan  Documents  to  which  it  is  a  party.

          4.8  NO  DEFAULTS  ON  OUTSTANDING  JUDGMENTS  OR  ORDERS.  Except  as
disclosed in Borrower's Forms 10K and 10Q filed with the Securities and Exchange
Commission  and  copies of which have been delivered to Bank, the Borrower, each
Subsidiary,  and  each  Guarantor  have  satisfied all judgments against it, and
neither  the  Borrower  nor  any Subsidiary nor any Guarantor is in default with
respect  to  any  judgment, writ, injunction, decree, rule, or regulation of any
court,  arbitrator,  or  federal,  state,  municipal,  or  other  governmental
authority,  commission,  board,  bureau, agency, or instrumentality, domestic or
foreign.

          4.9  OWNERSHIP  AND  LIENS. The Borrower and each Subsidiary has title
to,  or valid leasehold interests in, all of its properties and assets, real and
personal,  including,  without  limitation,  the  Collateral,  and  none of such
properties  and  assets  owned by the Borrower or a Subsidiary and none of their
leasehold  interests  are  subject  to  any  Lien,  except  Permitted  Liens.

          4.10  EMPLOYEE  BENEFITS.  The  Borrower  and  each  Subsidiary  is in
compliance  in  all  material  respects with all applicable provisions of ERISA.
Neither  a  Reportable  Event  nor  a Prohibited Transaction has occurred and is
continuing with respect to any Plan; no notice of intent to terminate a Plan has
been  filed  nor  has  any  Plan  been  terminated;  no circumstances exist that
constitute  grounds entitling the PBGC to institute proceedings to terminate, or
appoint  a  trustee  to administer, a Plan, nor has the PBGC instituted any such
proceedings;  neither  Borrower  nor  any

TERM  LOAN  AGREEMENT  -  16
<PAGE>
Commonly  Controlled  Entity  has  completely  or  partially  withdrawn  from  a
Multiemployer  Plan;  the  Borrower and each Commonly Controlled Entity have met
their  minimum  funding  requirements  under  ERISA with respect to all of their
Plans  and  the  present  value  of all vested benefits under each Plan does not
exceed  the  fair market value of all Plan assets allocable to such benefits, as
determined  on the most recent valuation date of the Plan and in accordance with
the  provisions  of  ERISA; and neither the Borrower nor any Commonly Controlled
Entity  has  incurred  any  liability  to  the  PBGC  under  ERISA.

          4.11  OPERATION  OF  BUSINESS.  To  the  best of Borrower's knowledge,
Borrower,  each  Subsidiary, and each Guarantor possesses all licenses, permits,
franchises, patents, copyrights, trademarks, and trade names, or rights thereto,
to  conduct  its  businesses  substantially  as  now  conducted and as presently
proposed  to be conducted, and the Borrower, each Subsidiary, and each Guarantor
is  not  in  violation  of any valid rights of others with respect to any of the
foregoing.  Borrower,  each  Subsidiary,  and each Guarantor has filed, and will
file  in  the  future,  with  the  appropriate governmental entities all assumed
business  name  certificates  necessary  or  required to conduct its businesses.

          4.12  TAXES.  The  Borrower,  each Subsidiary, and each Guarantor have
filed  all tax returns (federal, state, and local) required to be filed and have
paid  all  taxes, assessments, and governmental charges and levies thereon to be
due,  including  interest  and  penalties, except those presently being or to be
contested  by  Borrower,  a  Subsidiary,  or  a  Guarantor  in good faith in the
ordinary  course  of business and for which adequate reserves have been provided
in  Bank's  reasonable  judgment.

          4.13  DEBT.  EXHIBIT 4.13 is a complete and correct list of all credit
agreements,  indentures,  purchase  agreements,  guaranties, capital leases, and
other  investments,  agreements,  and arrangements presently in effect providing
for  or relating to extensions o f credit (including agreements and arrangements
for the issuance of letters of credit or for acceptance financing) in respect of
which  the  Borrower or any Subsidiary is in any manner directly or contingently
obligated;  and the maximum principal or face amounts of the credit in question,
which  are  outstanding  and which can be outstanding, are correctly stated, and
all  Liens  of  any  nature given or agreed to be given as security therefor are
correctly  described  or  indicated  in  such  Exhibit.

          4.14 ENVIRONMENTAL MATTERS. To the best of its knowledge and except as
disclosed  in  Borrower's  Forms  1  OK  and  1OQ  filed with the Securities and
Exchange  Commission  and  copies  of  which  have  been  delivered to Bank, the
Borrower  and  each Subsidiary has materially complied with, and its businesses,
operations,  assets,  equipment, property, leaseholds or other facilities are in
compliance with, the provisions of the Environmental Laws and all other federal,
state,  and  local  environmental, health and safety laws, codes and ordinances,
and  all  rules  and  regulations  promulgated thereunder. The Borrower and each
Subsidiary  has  been  issued and will maintain all required federal, state, and
local  permits,  licenses,  certificates,  and  approvals  relating  to  (1) air
emissions;  (2) discharges to surface water or groundwater; (3) noise emissions;
(4)  solid  or  liquid  waste  disposal;  (5) the use,  generation,  storage,
transportation,  or  disposal  of  Hazardous  Substances;

TERM  LOAN  AGREEMENT  -  17
<PAGE>
or  (6)  other  environmental, health, or safety matters. Except as disclosed in
Borrower's  Forms  10K and 1OQ filed with the Securities and Exchange Commission
and  copies  of  which  have  been  delivered  to Bank, neither Borrower nor any
Subsidiary  has  received  notice of, nor knows of, or suspects facts that might
constitute any material violations of an Environmental Law or any other federal,
state, or local environmental, health, noise emission, or safety laws, codes, or
ordinances  and  any rules or regulations promulgated thereunder with respect to
its  businesses,  operations,  assets, equipment, property, leaseholds, or other
facilities.  To  the  best  of Borrower's knowledge, except in accordance with a
valid  governmental  regulation,  permit, license, certificate, or approval, and
except  as  previously disclosed, there has been no emission, spill, release, or
discharge  into  or  upon  (1)  the  air; (2) soils, or any improvements located
thereon;  (3)  surface  water or groundwater; or (4) the sewer, septic system or
waste  treatment,  storage,  or  disposal  system  servicing the premises of any
Hazardous  Substances  or  from  the  premises.

          4.15 INVESTMENT COMPANY ACT. Neither Borrower nor any Subsidiary is an
"investment  company"  or  a  company  "controlled"  by an "investment company",
within  the  meaning  of  the  Investment  Company  Act  of  1940,  as  amended.

          4.16  PERFECTION  OF SECURITY INTEREST. The Security Agreement and the
pledge  of  the  Collateral pursuant thereto creates a valid and perfected first
priority  security  interest  in  the  Collateral  (except for Permitted Liens),
securing  the  payment  of  the  obligations,  and all filings and other actions
necessary  or  desirable to perfect and protect such security interest have been
taken.

          4.17 SUBSIDIARIES AND OWNERSHIP OF STOCK. Set forth in Exhibit 4.17 is
a  4.20  complete and accurate list of the Subsidiaries of the Borrower, showing
the  jurisdiction  of  incorporation  of  each and showing the percentage of the
Borrower's  ownership  of  the  outstanding stock of each Subsidiary. All of the
outstanding  capital  stock  of each such Subsidiary has been validly issued, is
fully paid and nonassessable, and is owned by the Borrower free and clear of all
Liens.

                        ARTICLE 5 - AFFIRMATIVE COVENANTS

          The  Borrower  covenants  and agrees that so long as any Obligation is
outstanding  it  will  comply  with  the  following  provisions:

          5.1  MAINTENANCE  OF  EXISTENCE. Borrower shall preserve and maintain,
and  cause  each  Subsidiary  to  preserve  and maintain, its existence and good
standing  in  the  jurisdiction  of  its  organization,  and  qualify and remain
qualified,  as  a  foreign  corporation  in  each  jurisdiction  in  which  such
qualification  is  required.

          5.2  MAINTENANCE  OF  RECORDS.  Borrower  shall  keep,  and cause each
Subsidiary  to  keep,  adequate  records and books of account, in which complete
entries  will  be  made in accordance with GAAP consistently applied, reflecting
all  financial  transactions  of  the  Borrower.

TERM  LOAN  AGREEMENT  -  18
<PAGE>
          5.3  MAINTENANCE  OF  PROPERTIES.  Borrower  shall maintain, keep, and
preserve,  and cause each Subsidiary to maintain, keep, and preserve, all of its
properties  (tangible  and intangible) necessary or useful in the proper conduct
of  its  business  in  good  working order and condition, ordinary wear and tear
excepted.

          5.4  CONDUCT  OF  BUSINESS.  Borrower  shall  continue, and cause each
Subsidiary to continue, to engage in a commercially reasonable and efficient and
economical  manner  in businesses of the same general type as conducted by it on
the  date  of  this  Agreement.

          5.5  MAINTENANCE  OF  INSURANCE.  Borrower  shall,  at  its  expense,
maintain,  and  cause  each  Subsidiary  to maintain, insurance with financially
sound  and  reputable  insurance  companies  or  associations  in  such amounts,
covering  such  risks, and in such form as shall be consistent with the industry
practices  and  satisfactory  to  Bank. Without limiting the foregoing sentence,
Borrower  shall  procure  and  maintain  all  risks insurance, including without
limitation  fire,  theft,  and  liability  coverage  together  with  such  other
insurance  as  Bank  may require with respect to the Collateral, inform, amounts
coverages and basis consistent with industry practices and reasonably acceptable
to  Bank  and  issued  by  a company or companies reasonably acceptable to Bank.
Borrower,  upon  request  of  Bank,  shall deliver to Bank from time to time the
policies  or  certificates  of insurance in form satisfactory to Bank, including
stipulations  that coverages will not be canceled or diminished without at least
thirty  (30) days' prior written notice to Bank and not including any disclaimer
of the insurer's liability for failure to give such a notice. In connection with
all  policies  covering  the  Collateral, Borrower shall pro vide Bank with such
lender  loss  payable  or other endorsements as Bank may require. If Borrower at
any  time  fails  to  obtain  or  maintain any insurance required under the Loan
Documents,  Bank  may,  but  shall not be obligated to, obtain such insurance as
Bank  deems appropriate, including if it so chooses, "single interest insurance"
that  will  cover  only  Bank's  interest  in  the  Collateral.

          5.6  COMPLIANCE  WITH  LAWS.  Borrower  shall  comply,  and cause each
Subsidiary  to comply, in all material respects with all applicable laws, rules,
regulations,  and orders, such compliance to include, without limitation, paying
before  the  same  become  delinquent  all  taxes, assessments, and governmental
charges imposed upon it or upon its property, except for such taxes, assessments
or  charges  that are contested by Borrower or a Subsidiary in good faith in the
ordinary  course  of business and for which adequate reserves have been provided
in  Bank's  reasonable  judgment.

          5.7  RIGHT  OF  INSPECTION. Borrower shall, at any reasonable time and
from  time  to  time  with  reasonable  notice,  permit the Bank or any agent or
representative thereof to inspect the Collateral, examine and make copies of and
abstracts from the records and books of account of, and visit the properties of,
the  Borrower  and  any  Subsidiary,  and  to discuss the affairs, finances, and
accounts of the Borrower and any Subsidiary with any of its employees, officers,
and  directors  and the Borrower's independent accountants. Without limiting the
foregoing,  at least once every year, and more often if Bank reasonably deems it
necessary,  Bank's  auditors may audit and examine Borrower's books and records.
Borrower  shall  reimburse  Bank  at  the  rate  of  Three  Hundred  Fifty

TERM  LOAN  AGREEMENT  -  19
<PAGE>
Dollars  ($350) per day for each auditor plus travel expenses, not to exceed Two
Thousand  Five  Hundred Dollars ($2,500) per year as long as no Event of Default
occurs.

5.8      REPORTING  REQUIREMENTS.

               5.8.1 ANNUAL FINANCIAL STATEMENTS. Borrower shall furnish to Bank
within  one  hundred  twenty (120) days after the end of each fiscal year of the
Borrower,  consolidated and consolidating balance sheets of the Borrower and its
Subsidiaries  as  of  the  end  of  such  fiscal  year,  and  consolidated  and
consolidating statements of income and retained earnings of the Borrower and its
Subsidiaries for such fiscal year, and consolidated and consolidating statements
of  cash flows of the Borrower and its Subsidiaries for such fiscal year, all in
reasonable detail and stating in comparative form the respective figures for the
corresponding  date  and  period  in  the  prior fiscal year and all prepared in
accordance  with  GAAP consistently applied and audited by independent certified
public  accountants  selected  by  the  Borrower  and  acceptable  to  the Bank.

               5.8.2 MANAGEMENT LETTERS. Borrower shall furnish to Bank promptly
upon  receipt  thereof,  copies  of  any  reports  submitted  to the Borrower by
independent  certified  public accountants in connection with examination of the
financial  statements  of  the  Borrower  made  by  such  accountants.

               5.8.3  NOTICE  OF  LITIGATION.  Borrower  shall  furnish  to Bank
promptly  after  the  commencement  thereof,  notice  of all actions, suits, and
proceedings  before  any  court  or  governmental department, commission, board,
bureau,  agency, or instrumentality, domestic or foreign, affecting the Borrower
that,  if  determined  adversely  to the Borrower, could have a material adverse
effect  on  the  financial condition, properties, or operations of the Borrower.

               5.8.4  NOTICE  OF  DEFAULTS AND EVENTS OF DEFAULT. Borrower shall
furnish  to  Bank as soon as possible and in any event within five Business Days
after  the  occurrence  of each Event of Default, a written notice setting forth
the details of such Event of Default and the action that is proposed to be taken
by  the  Borrower  with  respect  thereto.

               5.8.5  ERISA  REPORTS.  Borrower shall furnish to Bank as soon as
possible,  and  in any event within thirty (30) days after the Borrower knows or
has  reason  to  know  that  any  circumstances  exist  that  constitute grounds
entitling the PBGC to institute proceedings to terminate a Plan subject to ERISA
with respect to the Borrower or any Commonly Controlled Entity, and promptly but
in  any  event  within  ten(10)  Business Days of receipt by the Borrower or any
Commonly  Controlled  Entity of notice that the PBGC intends to terminate a Plan
or  appoint  a  trustee  to  administer  the same, and promptly but in any event
within ten (10) Business Days of the receipt of notice concerning the imposition
of  withdrawal liability with respect to the Borrower or any Commonly Controlled
Entity, a certificate of an authorized officer of the Borrower setting forth all
relevant  details and the action that the Borrower proposes to take with respect
thereto.

TERM  LOAN  AGREEMENT  -  20
<PAGE>
               5.8.6  REPORTS TO OTHER CREDITORS. Borrower shall furnish to Bank
promptly  after  the  furnishing  thereof,  copies  of  any  statement or report
furnished  to any party pursuant to the terms of any indenture, loan, credit, or
similar  agreement  and  not  otherwise  required  to  be  furnished to the Bank
pursuant  to  any  other  clause  of  this  Section.

               5.8.7  SEC  REPORTS.  Borrower  shall  furnish to Bank as soon as
possible  and  in  any  event  within  five  (5)  Business Days after the filing
thereof,  copies  of  all  regular,  periodic,  and  special  reports,  and  all
registration  statements  that  the  Borrower  or  any Subsidiary files with the
Securities  and  Exchange  Commission  or  any governmental authority that maybe
substituted  therefor,  or  with  any  national  securities exchange, including,
without  limitation,  10Q, 10K, and 8K reports. Notwithstanding anything in this
Agreement  to  the contrary, Borrower furnish Bank with a copy of Borrower's 10Q
report  no  later  than  45  days  after  the  end  of  each  fiscal  quarter.

               5.8.8  COMPLIANCE CERTIFICATE. Borrower shall furnish Bank within
45  days after the end of each fiscal quarter and 90 days after each fiscal year
(in  the  case  of  the 4th fiscal quarter) a certificate of the chief executive
officer  or  the  chief  financial  officer or other officer approved by Bank in
writing  stating that he or she has individually reviewed the provisions of this
Agreement  and  that  review  of  the activities of Borrower during such quarter
period  has been made by him or her or under his or her supervision, with a view
to  determining  whether  Borrower  had fulfilled all its obligations under this
Agreement,  and  that  Borrower  has  observed  and  performed  each undertaking
contained  in  the  Loan  Documents  and  is not in default in the observance or
performance of any of the provisions of the Loan Documents or, if Borrower shall
be so in default, specifying all such defaults and events of which he or she may
have  knowledge.

               5.8.9  COLLATERAL  REPORT.  Upon Bank's written request, Borrower
shall  furnish  to  Bank  on  or before the 20th day of each month reporting for
Borrower and each Subsidiary as of the end of the last Business Day of the prior
month  statements  of  (i)  an  aged  listing  accounts receivable, (ii) an aged
listing of accounts payable, (iii) a reconciliation of accounts, and (iv) a list
of  the  names  and  addresses  of  all  account  debtors.

               5.8.10  GENERAL  INFORMATION. Borrower shall furnish to Bank such
other  information  respecting  the  condition  or  operations,  financial  or
otherwise, of the Borrower as the Bank may from time to time reasonably request.

          5.9  ENVIRONMENT.  Borrower shall, and shall cause each Subsidiary to,
(i) be and remain in substantial compliance with Environmental Laws and with the
provisions  of  all  other  federal, state, and local environmental, health, and
safety  laws,  codes,  and  ordinances,  and  all  rules  and regulations issued
thereunder;  (ii)  notify  the  Bank  immediately  of  any notice of a Hazardous
Substance  discharge  or  environmental  complaint received by Borrower from any
governmental  agency  or  other  party; (iii) notify the Bank immediately of any
material  Hazardous  Substance  discharge  from  or affecting its premises; (iv)
immediately comply with all applicable laws regarding the same; (v) promptly pay
any  fine  or  penalty  assessed  in  connection  therewith after exhausting all
recourse;  (vi)  permit  the  Bank  to  inspect  the  premises, to conduct tests
thereon,  and  to  inspect  all

TERM  LOAN  AGREEMENT  -  21
<PAGE>
books,  correspondence,  and records pertaining thereto; and (vii) at the Bank's
request,  and  at  the  Borrower's  expense,  provide  a  report  of a qualified
environmental  engineer,  satisfactory  in scope, form, and content to the Bank,
and  such  other and further assurances reasonably satisfactory to the Bank that
the  condition  has  been  corrected.

          5.10  REIMBURSEMENT  OF  LENDER  EXPENSES.  Borrower shall promptly on
demand reimburse Bank for sums expended by Bank that constitute Lender Expenses,
and Borrower authorizes and approves all advances and payments by Bank for items
constituting  Lender Expenses after written notice to Borrower. In addition, the
Borrower  shall  pay  any  and  all  stamp  and  other taxes and fees payable or
determined to be payable in connection with the execution, delivery, filing, and
recording  of  any of the Loan Documents and the other documents to be delivered
under  any  such  Loan  Documents, and agrees to hold the Bank harmless from and
against  any  and all liabilities with respect to or resulting from any delay in
paying  or  omission  to  pay  such taxes and fees. This provision shall survive
termination  of  this  Agreement.

                         ARTICLE 6 - NEGATIVE COVENANTS

          The  Borrower  covenants  and agrees that so long as any Obligation is
outstanding  it  will  comply  with  the  following  provisions:

          6.1  LIENS.  Without Bank's  prior written consent, Borrower shall not
create,  incur,  assume, or suffer to exist, or permit any Subsidiary to create,
incur,  assume, or suffer to exist, any Lien upon any of its property or assets,
now  owned  or hereafter acquired, except for the following ("Permitted Liens"):

          (i)  Liens  (if  any)  granted  to  Bank  to  secure  the Obligations,

          (ii)  Liens  described  in  the  attached  EXHIBIT  6.1,

          (iii)  pledges  or  deposits  made  to  secure  payment  of  worker's
compensation  insurance  (or  to  participate  in  any  fund  in connection with
worker's  compensation  insurance),  unemployment insurance, pensions, or social
security  programs,

          (iv)  Liens  imposed  by  mandatory  provisions  of  law  such  as for
materialmen,  mechanics,  warehousemen,  and  other  like  Liens  arising in the
ordinary course of business, securing indebtedness whose payment is not yet due,
or  that  is  being  contested  by Borrower in good faith and for which adequate
reserves  have  been  provided,

          (v)  Liens  for taxes, assessments, and governmental charges or levies
imposed  upon  a  person or upon such person's income or profits or property, if
the  same are not yet due and payable or if the same are being contested in good
faith  and  as  to  which  adequate  cash  reserves  have  been  provided,

TERM  LOAN  AGREEMENT  -  22

<PAGE>
          (vi)  Liens  arising  from  good  faith  deposits  in  connection with
tenders,  leases, real estate bids, or contracts (other than contracts involving
the  borrowing  of  money),  pledges  or  deposits to secure public or statutory
obligations  and  deposits  to  secure  (or in lieu of) surety, stay, appeal, or
customs  bonds and deposits to secure the payment of taxes, assessments, customs
duties,  or  other  similar  charges,

          (vii)  encumbrances  consisting  of zoning restrictions, easements, or
other restrictions on  the use of real property, provided that such items do not
impair  the use of such property for the purposes intended, and none of which is
violated  by  existing  or  proposed  structures  or  land  use,  or

          (viii)  purchase-money Liens on any property hereafter acquired or the
assumption of any Lien on property existing at the time of such acquisition (and
not  created  in  contemplation  of  such  acquisition),  or  a Lien incurred in
connection  with  any  conditional  sale or other title retention agreement or a
capital  lease,  provided  that (a) any property subject to any of the foregoing
is  acquired by the Borrower in the ordinary course of its business and the Lien
on  any  such property attaches to such asset concurrently or within ninety (90)
days  after  the  acquisition thereof; (b) the obligation secured by any Lien so
created,  assumed,  or  existing  shall not exceed the lesser of the cost or the
fair  market value as of the time of acquisition of the property covered thereby
to  the  Borrower,  (c)  each  such  Lien  shall  attach only to the property so
acquired,  (d)  the  debt secured by all such Liens shall not exceed Twenty-five
Thousand Dollars ($25,000) at any time outstanding in the aggregate, and (e) the
debt secured by such Lien is permitted by the provisions of Section 6.2, and the
related  expenditure  is  permitted  under  Section  7.1.

          6.2  DEBT.  Without  Bank's  prior written consent, Borrower shall not
incur, assume, or suffer to exist, or permit any Subsidiary to incur, assume, or
suffer  to exist, any debt other than (i) the Obligations; (ii) indebtedness and
liabilities  of  Borrower  identified  in  EXHIBIT  4.13; (iii) indebtedness and
liabilities  o  f  Borrower  that  have  been subordinated to the Obligations by
written  agreement  in  form  and  substance  acceptable  to Bank; (iv) accounts
payable  to  trade  creditors  for  goods  or  services that are incurred in the
ordinary  course  of  business,  as  presently  conducted,  and  paid  within  a
reasonable  time, unless contested in good faith and by appropriate proceedings;
and (vi) debt of the Borrower secured by purchase-money liens that are Permitted
Liens.

          6.3  MERGERS  OR  REORGANIZATION.  Borrower  shall not, without Bank's
prior  written  consent,  which consent shall not be unreasonably withheld, wind
up, liquidate or dissolve itself, reorganize, merge or consolidate with or into,
or  convey,  sell,  assign, transfer, lease, or otherwise dispose of (whether in
one transactions or in a series of transactions) all or substantially all of its
assets  (whether  now owned or hereafter acquired) to any Person, or acquire all
or  substantially all of the assets or the business of any Person, or permit any
Subsidiary  to  do so, except that (1) any Subsidiary may merge into or transfer
assets to the Borrower, (2) any Subsidiary may merge into or consolidate with or
transfer  assets  to  any other Subsidiary, (3) acquire or merge with any entity
whose  assets  are  valued  at  ten  percent (10%) or less of the Borrower's net
worth.

TERM  LOAN  AGREEMENT  -  23
<PAGE>
          6.4  LEASES.  Without Bank's prior written consent, Borrower shall not
create,  incur,  assume, or surfer to exist, or permit any Subsidiary to create,
incur,  assume,  or  suffer to exist, any obligation as lessee for the rental or
hire  of  any real or personal property, except: (1) leases existing on the date
of  this  Agreement and any extensions or renewals thereof; (2) leases with Bank
or  an affiliate of Bank; and (3) leases (other than capital leases) that do not
in  the  aggregate  require  the Borrower and its Subsidiaries on a consolidated
basis  to  make  payments  (including taxes, insurance, maintenance, and similar
expenses  that the Borrower or any Subsidiary is required to pay under the terms
of  any  lease)  in  any  fiscal  year  of the Borrower in excess of One Hundred
Thousand  Dollars  ($100,000).

          6.5 SALE AND LEASEBACK. Without Bank's prior written consent, Borrower
shall  not  sell, transfer, or otherwise dispose of, or permit any Subsidiary to
sell,  transfer,  or  otherwise dispose of, any real or personal property to any
Person  other  than  Bank  or  an  affiliate  of Bank and thereafter directly or
indirectly  lease  back  the  same  or  similar  property.

          6.6  DIVIDENDS.  Without  Bank's prior written consent, Borrower shall
not  declare  or  pay  any  dividends; or purchase, redeem, retire, or otherwise
acquire for value any of its capital stock now or hereafter outstanding; or make
any  distribution of assets to its shareholders as such whether in cash, assets,
or  in  obligations  of the Borrower; or allocate or otherwise set apart any sum
for  the  payment  of  any  dividend  or  distribution  on, or for the purchase,
redemption,  or retirement of any shares of its capital stock; or make any other
distribution  by  reduction  of capital or otherwise in respect of any shares of
its  capital  stock,  except  that  the  Borrower  (1)  may  declare and deliver
dividends and make distributions payable solely in common stock of the Borrower;
and  (2)  may  purchase  or  otherwise  acquire  shares  of its capital stock by
exchange  for  or  out  of the proceeds received from a substantially concurrent
issue  of  new  shares  of  its  capital  stock.

          6.7  SALE  OF  ASSETS.  Without Bank's prior written consent, Borrower
shall  not sell, lease, assign, transfer, or otherwise dispose of, or permit any
subsidiary to sell, lease, assign, transfer, or otherwise dispose of, any of its
now  owned  or  hereafter acquired material operating assets (including, without
limitation,  receivables),  except:  (1)  inventory  disposed of in the ordinary
course  of  business;  and (2) the sale or other disposition of assets no longer
used  or  useful  in  the  conduct  of  its  business.

TERM  LOAN  AGREEMENT  -  24
<PAGE>
          6.8  INVESTMENTS. Without Bank's Prior written consent, Borrower shall
not  make,  or permit any subsidiary to make, any loan or advance to any Person,
or  purchase  or  otherwise  acquire  any capital stock, assets, obligations, or
other securities of, make any capital contribution to, or otherwise invest in or
acquire  any  interest  in  any  Person,  or  participate  as a partner or joint
venturer  with  any  other  Person, except: (1) direct obligations of the United
States  or  any agency thereof with maturities of one year or less from the date
of  acquisition;  (2) commercial paper of a domestic issuer rated at least "A-l"
by  Standard  &  Poor's Corporation or "P-l" by Moody's Investors Service, Inc.;
(3) certificates of deposit with maturities of one year or less from the date of
acquisition;  (4)  stock,  obligations,  or securities received in settlement of
debts  (created  in  the ordinary course of business) owing to the Borrower; (5)
investments  made through Bank or one of its affiliates, and (6) as provided for
in  Section  6.3

          6.9  GUARANTIES.  Without Bank's prior written consent, Borrower shall
not  assume,  guarantee,  endorse,  or  otherwise  be  or  become  directly  or
contingently  responsible or liable (including, but not limited to, an agreement
to  purchase  any obligation, stock, assets, goods, or services, or to supply or
advance  any  funds,  assets, goods, or services, or an agreement to maintain or
cause  such  Person  to  maintain  a minimum working capital or net worth, or to
otherwise  assure  the  creditors of any Person against loss) for obligations of
any  Person, or permit any subsidiary to do so, except guaranties by endorsement
of  negotiable  instruments for deposit or collection or similar transactions in
the  ordinary  course  of  business.

          6.10 ERISA PLANS. Borrower shall not, without the Bank's prior written
consent,  enter  into,  contribute  to,  or  become  a  party  to, or permit any
subsidiary  to  enter into, contribute to, or become a party to, any Plan, other
than  those  Plans  listed  in  EXHIBIT  6.10.

          6.11  TRANSACTIONS  WITH  AFFILIATES.  Without  Bank's  prior  written
consent,  Borrower shall not enter into, or permit any subsidiary to enter into,
any  transaction, including, without limitation, the purchase, sale, or exchange
of  property  or  the rendering of any service, with any Affiliate except in the
ordinary course of and pursuant to the reasonable requirements of the Borrower's
business  and  upon  fair and reasonable terms no less favorable to the Borrower
than  would obtain in a comparable arm's-length transaction with a Person not an
Affiliate;  except  that Borrower may repay Affiliate Debt, as listed on Exhibit
4.13  at  anytime.

          6.12 CHANGE IN MANAGEMENT. Borrower shall not materially and adversely
alter the executive management positions of Chief Executive Officer and/or Chief
Financial Officer without giving Bank written notice of such alteration at least
sixty  (60)  days  prior  to  the effective date of such alteration in executive
management.  If  such advance notice is not possible, Borrower shall notify Bank
of  such  change  as  soon  as  is  possible.

TERM  LOAN  AGREEMENT  -  25
<PAGE>
          6.13 ACCOUNTING. Borrower shall not (i) modify or change its method of
accounting  without advising Bank of such change, or (ii) enter into, modify, or
terminate  any agreement presently existing or at anytime hereafter entered into
with  any  third party accounting firm and/or service bureau for the preparation
and/or  storage  of  Borrower's  accounting records without Borrower instructing
said  accounting  firm  and/or  service  bureau  to  provide to Bank information
regarding  the  Collateral  and  Borrower's  financial  condition.

          6.14 BORROWER'S LEGAL STATUS. Without providing at least 30 days prior
written notice to the Bank, the Borrower shall not change its name, its place of
business or, if more than one, chief executive office, or its mailing address or
organizational  identification  number  if  it has one. If the Borrower does not
have an organizational identification number and later obtains one, the Borrower
shall  immediately notify the Bank of such organizational identification number.
The  Borrower  shall  not  change  its  type  of  organization,  jurisdiction of
organization,  or  other  legal  structure.

                         ARTICLE 7 - FINANCIAL COVENANTS

          So  long  as  any Obligation is outstanding or the Bank shall have any
commitment under this Agreement, Borrower shall maintain the following financial
covenants:

          7.1  DEBT SERVICE COVERAGE RATIO. Borrower shall maintain on a rolling
four  quarter  basis  a ratio of EBITDA to Debt Service of not less than 1.50 to
1.00.  The term "EBITDA" shall mean, for any period, as applied to Borrower, the
sum of Borrower's earnings, excluding any extraordinary and nonoperating income,
before  (a)  interest  expense,  (b) depreciation, (c) dividends, (d) taxes, (e)
amortization,  and (f) other noncash charges. The term "Debt Service" shall mean
for  any  fiscal period cash interest expense plus the scheduled amortization of
any  outstanding  Funded  Debt (as defined in paragraph 2.1.2.5) for such period
plus  required  payments  on  operating  leases.

          7.2  LEVERAGE RATIO. Borrower shall maintain at the end of each fiscal
quarter  and  each  fiscal  year  a  ratio  of  Borrower's  total liabilities to
Borrower's  shareholder's  equity  of  not  greater  than  2.00  to  1.00.

          7.3  CURRENT  RATIO. Borrower shall maintain at the end of each fiscal
quarter  and  each  fiscal  year  a  ratio of current assets to Adjusted Current
Liabilities  less  current  maturities  of Deferred Site Maintenance of at least
1.20  to  1.00  thereafter.  The  term  "Adjusted  Current  Liabilities"  means
Borrower's  current  liabilities less Deferred Closure/Post Closure Obligations.
The term "Deferred Closure/Post Closure Obligations" shall be as reported by the
Borrower  in  accordance with GAAP in its periodic reports to the Securities and
Exchange  Commission.

          7.4  FUNDED  DEBT  RATIO.  Borrower  shall maintain at the end of each
fiscal quarter and each fiscal year a Funded Debt Ratio (as defined in Paragraph
2.1.2.5)  of  not  greater  than  4.00  to  1.00.

TERM  LOAN  AGREEMENT  -  26
<PAGE>
                          ARTICLE 8 - EVENTS OF DEFAULT

          8.1  EVENTS OF DEFAULT. Each of the following events, at the option of
Bank,  shall  constitute  an  event  of  default  (each  an "Event of Default"):

               8.1.1  The  Borrower  shall  fail  to  pay  the  principal of, or
interest  on,  the Term Note, or any Obligation within fifteen (15) days of when
due  and  payable.

               8.1.2  Any  representation  or  warranty  made  or deemed made by
Borrower  in  this Agreement, the Security Agreements, or other Loan Document or
that  is  contained in any certificate, document, opinion, or financial or other
statement  furnished  at  any time under or in connection with any Loan Document
shall  prove  to  have been incorrect, incomplete, or misleading in any material
respect  on  or  as  of  the  date  made  or  deemed  made.

               8.1.3  Borrower  shall  fail  to  perform  or  observe  any term,
covenant,  or  condition  contained in this Agreement or other Loan Document, or
Borrower shall be in default under any other agreement with Bank or an affiliate
of  Bank.

               8.1.4  Borrower  shall  (a)  fail  to  pay  any  indebtedness for
borrowed  money  (other than the Loan) of the Borrower in excess of an aggregate
principal  amount  of  $25,000,  or  any  interest  or premium thereon, when due
(whether  by  scheduled  maturity, required prepayment, acceleration, demand, or
otherwise);  or  (b) fail to perform or observe any term, covenant, or condition
on  its  part  to  be  performed  or  observed under any agreement or instrument
relating to any such indebtedness, when required to be performed or observed, if
the  effect of such failure to perform or observe is to accelerate, or to permit
the  acceleration of after the giving of notice or passage of time, or both, the
maturity of such indebtedness, whether or not such failure to perform or observe
shall  be  waived  by  the holder of such indebtedness, or any such indebtedness
shall  be  declared to be due and payable, or required to be prepaid (other than
by  a  regularly  scheduled  required  prepayment), prior to the stated maturity
thereof.

               8.1.5 Borrower (a) shall generally not pay, or shall be unable to
pay,  or  shall  admit  in  writing its inability to pay its debts as such debts
become  due;  or  (b)  shall make an assignment for the benefit of creditors, or
petition  or apply to any tribunal for the appointment of a custodian, receiver,
or trustee for it or a substantial part of its assets; or (c) shall commence any
proceeding  under  any  bankruptcy, reorganization, arrangement, readjustment of
debt,  dissolution,  or  liquidation law or statute of any jurisdiction, whether
now  or  hereafter  in  effect;  or  (d)  shall  have  had  any such petition or
application  filed or any such proceeding commenced against it in which an order
for  relief  is  entered  or  an  adjudication  or appointment is made, and that
remains  undismissed  for a period of sixty (60) days or more; or (e) shall take
any  corporate action indicating its consent to, approval of, or acquiescence in
any  such  petition,  application,  proceeding,  or  order  for  relief or  the
appointment of a custodian, receiver, or trustee for all or any substantial part
of  its properties; or (f) shall suffer any such custodianship, receivership, or
trusteeship  to  continue  undischarged for a period of sixty (60) days or more.

TERM  LOAN  AGREEMENT  -  27
<PAGE>
               8.1.6  One  or more judgments, decrees, or orders for the payment
of money in excess of One Hundred Twenty-five Thousand Dollars ($125,000) in the
aggregate  shall  be rendered against the Borrower, and such judgments, decrees,
or  orders  shall  continue unsatisfied and in effect for a period of sixty (60)
consecutive  days  without  being  vacated,  discharged, satisfied, or stayed or
bonded  pending  appeal.

               8.1.7  The  Security  Agreement  shall  at  any  time  after  its
execution  and  delivery  and  for  any  reason  cease (a) to create a valid and
perfected  first  priority security interest in and to the property purported to
be  subject to such Security Agreement; or (b) to be in full force and effect or
shall be declared null and void, or the validity or enforceability thereof shall
be  contested  by  the  Borrower,  or the Borrower shall deny it has any further
liability or obligation under the Security Agreement, or the Borrower shall fail
to  perform  any  of  its  obligations  under  the  Security  Agreement.

               8.1.8  Any  Guaranty  shall  at  any time after its execution and
delivery  and  for  any  reason cease to be in full force and effect or shall be
declared  null  and  void,  or  the  validity or enforceability thereof shall be
contested  by  the  Guarantor,  or  the  Guarantor shall deny he has any further
liability  under,  or shall fail to perform its obligations under, the Guaranty,
or  the  Guarantor,  if  a  natural  person,  shall  die.

               8.1.9  Any  of  the  following  events  shall occur or exist with
respect  to  Borrower  and  any  Commonly  Controlled  Entity  under  ERISA: any
Reportable  Event  shall  occur;  complete  or  partial  withdrawal  from  any
Multiemployer  Plan  shall take place; any Prohibited transaction shall occur; a
notice  of  intent  to  terminate  a  Plan  shall  be  filed, or a Plan shall be
terminated;  or  circumstances shall exist that constitute grounds entitling the
PBGC  to  institute proceedings to terminate a Plan, or the PBGC shall institute
such proceedings; and in each case above, such event or condition, together with
all  other  events or conditions, if any, could subject the Borrower to any tax,
penalty,  or  other  liability  that  in the aggregate may exceed Fifty Thousand
Dollars  ($50,000).

               8.1.10  If any federal, state, or local agency asserts or creates
a  Lien upon any or all of the assets, equipment, property, leaseholds, or other
facilities  of  Borrower by reason of the occurrence of a hazardous discharge or
an  environmental complaint; or if any federal, state, or local agency asserts a
claim against the Borrower and/or its assets, equipment, property, leaseholds or
other  facilities for damages or cleanup costs relating to a hazardous discharge
or  an  environmental  complaint;  provided,  however, that such claim shall not
constitute  a default if, within ten (10) Business Days of the occurrence giving
rise  to  the  claim,  (a)  the  Borrower  can  prove  to  the Bank's reasonable
satisfaction  that  the  Borrower  has  commenced  and is diligently pursuing an
investigation of the claim to be followed promptly by either: (i) a cure or plan
for  correction  of  the  event  that  constitutes  the basis for the claim, and
continues  diligently  to  pursue such cure or correction to completion, or (ii)
proceedings  for  an  injunction,  a  restraining  order,  or  other appropriate
emergent  relief  preventing  such agency or agencies from asserting such claim,
that  relief  is  granted within ten (10) Business Days of the occurrence giving
rise  to  the  claim  and  the  injunction,  order,  or relief is not thereafter
resolved  or  reversed on appeal; and (b) in either of the foregoing events, the
Borrower  has

TERM  LOAN  AGREEMENT  -  28
<PAGE>
posted  a  bond,  letter  of  credit,  or  other  security satisfactory in form,
substance  and  amount  to  both the Bank and the agency or entity asserting the
claim  to  secure  the  proper and complete cure or correction of the event that
constitutes  the  basis  for  the  claim.

               8.1.11  Any material misrepresentation exists now or hereafter in
any  warranty  or  representation  made  to  Bank  by any officer or director of
Borrower,  or if any such warranty or representation is withdrawn by any officer
or  director.

               8.1.12  This  Agreement shall at any time after its execution and
delivery  and  for  any  reason cease to be in fall force and effect or shall be
declared  null  and  void,  or  the  validity or enforceability thereof shall be
contested  by  Borrower,  or Borrower shall deny it has any further liability or
obligation  under  this  Agreement.

          8.2  CURE  OF  EVENT OF DEFAULT. If any Event of Default, other than a
payment  default,  is  curable  and if Borrower has not been given a notice of a
similar default within the preceding twelve (12) months, it may be cured (and no
Event of Default will have occurred) if Borrower, after receiving written notice
from  Bank  demanding cure of such default: (a) cures the default within fifteen
(15)  days; or (b) if the cure requires more than fifteen (15) days, immediately
initiates steps that Bank deems in Bank's sole, but reasonable, discretion to be
sufficient  to  cure  the  default  and  thereafter  continues and completes all
reasonable  and  necessary  steps  sufficient  to  produce compliance as soon as
reasonably  practical.  Bank  at  its sole discretion may elect to give Borrower
additional  cure  opportunities.

                     ARTICLE 9 - BANK'S RIGHTS AND REMEDIES

          9.1  SPECIFIC  REMEDIES. Upon the occurrence of an Event of Default by
Borrower  under  this Agreement, Bank may, at its election and without notice of
its  election  and  without  demand, do any one or more of the following, all of
which  are  authorized  by  Borrower:

               9.1.1  Declare  all  Obligations,  whether  evidenced  by  this
Agreement  or  the  Loan  Documents,  due  and  payable  immediately.

               9.1.2  Terminate  this  Agreement  and  any  of  the  other  Loan
Documents  as  to  any  future  liability  or  obligation  of  Bank, but without
affecting  Bank's  rights  and  security  interest in the Collateral and without
affecting  the  Obligations.

TERM  LOAN  AGREEMENT  -  29
<PAGE>
          9.2  Set  Off.  Upon  the occurrence and during the continuance of any
Event  of  Default  the  Bank  is hereby authorized at any time and from time to
time,  without notice to the Borrower (any such notice being expressly waived by
the  Borrower),  to  set off and apply any and all deposits (general or special,
time or demand, provisional or final) at any time held and other indebtedness at
any  time  owing  by  the  Bank  to or for the credit or the account of Borrower
against any and all of the obligations of the Borrower now or hereafter existing
under  this  Agreement or the Term Note or any other Loan Document, irrespective
of  whether  or  not the Bank shall have made any demand under this Agreement or
the  Term  Note or such other Loan Document and although such obligations may be
unmatured. The Bank agrees promptly to notify the Borrower after any such setoff
and  application, provided that the failure to give such notice shall not affect
the  validity  of such setoff and application. The rights of the Bank under this
Section  are  in  addition  to  other  rights  and  remedies (including, without
limitation,  other  rights  of  setoff)  that  the  Bank  may  have.

          9.3  CUMULATIVE  REMEDIES. The rights and remedies provided herein are
cumulative,  and  are  not exclusive of any other rights, powers, privileges, or
remedies,  now  or  hereafter  existing,  at  law  or  in  equity  or otherwise.

          9.4  ARBITRATION.

               9.4.1  ARBITRATION.  The parties shall, upon demand by any party,
submit  to binding arbitration all claims, disputes and controversies between or
among them  (and their respective employees, officers, directors, attorneys, and
other agents), whether in tort, contract or otherwise arising out of or relating
to  in  any  way  (i)  the  Loan  and  the Loan Documents and their negotiation,
execution,  collateralization,  administration,  repayment,  modification,
extension,  substitution,  formation,  inducement,  enforcement,  default  or
termination;  or  (ii)  requests  for  additional  credit.

               9.4.2  GOVERNING  RULES.  Any  arbitration  proceeding  will  (i)
proceed  in a location in Idaho selected by the American Arbitration Association
("AAA");  (ii) be governed by the Federal Arbitration Act (Title 9 of the United
States  Code), notwithstanding any conflicting choice of law provision in any of
the  documents  between  the parties; and (iii) be conducted by the AAA, or such
other administrator as the parties shall mutually agree upon, in accordance with
the  AAA's  commercial  dispute  resolution  procedures,  unless  the  claim  or
counterclaim  is  at  least  $  1,000,000.00  exclusive  of  claimed  interest,
arbitration  fees  and costs in which case the arbitration shall be conducted in
accordance  with  the  AAA's  optional  procedures for large, complex commercial
disputes  (the  commercial  dispute  resolution  procedures  or  the  optional
procedures  for  large,  complex  commercial  disputes  to  be  referred  to, as
applicable,  as  the  "Rules").  If there is any inconsistency between the terms
hereof  and  the Rules, the terms and procedures set forth herein shall control.
Any  party  who  fails or refuses to submit to arbitration following a demand by
any  other  party shall bear all costs and expenses incurred by such other party
in  compelling  arbitration  of  any  dispute. Nothing contained herein shall be
deemed to be a waiver by any party that is a bank of the protections afforded to
it  under  12  U.S.C.  91  or  any  similar  applicable  state  law.

TERM  LOAN  AGREEMENT  -  30
<PAGE>
               9.4.3  NO  WAIVER  OF  PROVISIONAL  REMEDIES,  SELF-HELP  AND
FORECLOSURE.  The  arbitration requirement does not limit the right of any party
to  (i)  foreclose  against  real or personal property collateral; (ii) exercise
self-help  remedies  relating  to  collateral  or proceeds of collateral such as
setoff  or  repossession; or (iii) obtain provisional or ancillary remedies such
as  replevin,  injunctive  relief,  attachment or the appointment of a receiver,
before  during  or  after  the  pendency  of  any  arbitration  proceeding. This
exclusion  does  not constitute a waiver of the right or obligation of any party
to  submit  any  dispute  to arbitration or reference hereunder, including those
arising  from  the  exercise  of  the actions detailed in sections (i), (ii) and
(iii)  of  this  paragraph.

               9.4.4  ARBITRATOR  QUALIFICATIONS  AND  POWERS.  Any  arbitration
proceeding  in  which the amount in controversy is $5,000,000.00 or less will be
decided  by  a  single arbitrator selected according to the Rules, and who shall
not  render  an  award  of  greater than $5,000,000.00. Any dispute in which the
amount in controversy exceeds $5,000,000.00 shall be decided by majority vote of
a  panel of three arbitrators; provided however, that all three arbitrators must
actively participate in all hearings and deliberations. The arbitrator will be a
neutral  attorney  licensed  in the State of Idaho or a neutral retired judge of
the  state  or  federal  judiciary of Idaho, in either case with a minimum often
years  experience in the substantive law applicable to the subject matter of the
dispute  to be arbitrated. The arbitrator will determine whether or not an issue
is  arbitratable  and  will  give  effect  to  the  statutes  of  limitation  in
determining  any claim. In any arbitration proceeding the arbitrator will decide
(by  documents  only  or  with  a  hearing  at  the arbitrator's discretion) any
pre-hearing motions which are similar to motions to dismiss for failure to state
a  claim  or  motions for summary adjudication. The arbitrator shall resolve all
disputes  in  accordance  with  the  substantive  law of Idaho and may grant any
remedy  or  relief  that  a  court of such state could order or grant within the
scope  hereof  and  such  ancillary relief as is necessary to make effective any
award.  The  arbitrator shall also have the power to award recovery of all costs
and  fees,  to  impose sanctions and to take such other action as the arbitrator
deems  necessary  to the same extent a judge could pursuant to the Federal Rules
of  Civil Procedure, the Idaho Rules of Civil Procedure or other applicable law.
Judgment  upon  the award rendered by the arbitrator may be entered in any court
having  jurisdiction.  The institution and maintenance of an action for judicial
relief or  pursuit  of a  provisional or ancillary remedy shall not constitute a
waiver  of  the  right  of  any  party,  including  the plaintiff, to submit the
controversy  or claim to arbitration if any other party contests such action for
judicial  relief.

               9.4.5  DISCOVERY. In any arbitration proceeding discovery will be
permitted in accordance with the Rules. All discovery shall be expressly limited
to  matters  directly  relevant  to  the  dispute  being  arbitrated and must be
completed  no  later than 20 days before the hearing date and within 180 days of
the  filing  of  the  dispute with the AAA. Any requests for an extension of the
discovery  periods,  or  any  discovery  disputes,  will  be  subject  to  final
determination by the arbitrator upon a showing that the request for discovery is
essential  for  the  party's  presentation  and  that  no  alternative means for
obtaining  information  is  available.

               9.4.6 CLASS PROCEEDINGS AND CONSOLIDATIONS. The resolution of any
dispute arising pursuant to the terms of this Agreement shall be determined by a
separate  arbitration

TERM  LOAN  AGREEMENT  -  31
<PAGE>
proceeding  and  such  dispute  shall not be consolidated with other disputes or
included  in  any  class  proceeding.

               9.4.7 PAYMENT OF ARBITRATION COSTS AND FEES. The arbitrator shall
award  all  costs  and  expenses  of  the  arbitration  proceeding.

               9.4.8  REAL  PROPERTY COLLATERAL. Notwithstanding anything herein
to  the  contrary,  no  dispute shall be submitted to arbitration if the dispute
concerns  indebtedness  secured  directly or indirectly, in whole or in part, by
any  real  property  unless  (i)  the  holder  of the mortgage, lien or security
interest specifically elects in writing to proceed with the arbitration, or (ii)
all parties to the arbitration waive any rights or benefits that might accrue to
them by virtue of the single action rule statute of Idaho, thereby agreeing that
all  indebtedness  and  obligations of the parties, and all mortgages, liens and
security  interests  securing  such  indebtedness  and obligations, shall remain
fully  valid  and  enforceable.

               9.4.9  MISCELLANEOUS. To the maximum extent practicable, the AAA,
the  arbitrators  and the parties shall take all action required to conclude any
arbitration  proceeding  within  180  days of the filing of the dispute with the
AAA.  No arbitrator or other party to an arbitration proceeding may disclose the
existence,  content or results thereof, except for disclosures of information by
a  party required in the ordinary course of its business or by applicable law or
regulation. If more than one agreement for arbitration by or between the parties
potentially  applies  to  a  dispute,  the  arbitration  provision most directly
related  to  the  Loan  Documents  or  the  subject  matter of the dispute shall
control.  This  arbitration  provision  shall  survive termination, amendment or
expiration of any of the Loan Documents or any relationship between the parties.

                           ARTICLE 10 - MISCELLANEOUS

          10.1  AMENDMENTS,  ETC.  No  amendment,  modification, termination, or
waiver  of  any provision of any Loan Document to which the Borrower is a party,
nor  consent to any departure by the Borrower from any Loan Document to which it
is  a party, shall in any event be effective unless the same shall be in writing
and  signed  by  the Bank and Borrower, and then such waiver or consent shall be
effective  only  in the specific instance and for the specific purpose for which
given.

          10.2  NOTICES,  ETC.  Unless otherwise provided in this Agreement, All
notices and other communications provided for under this Agreement and under the
other  Loan  Documents  to which the Borrower is a party shall be in writing and
either  personally  served or sent by verified facsimile transmission, overnight
delivery service, or regular United States mail, postage prepaid, to Borrower or
to  Bank  as  the  case  may  be  at  the  addresses  set  forth  below:

TERM  LOAN  AGREEMENT  -  32
<PAGE>
          If  to  Borrower:     American  Ecology  Corporation
                                300  E.  Mallard
                                Suite  300
                                Boise,  Idaho  83706
                                Attention:  Jim  Baumgardner
                                Fax:  208/331-7900
          With  a  copy  to:    Stoel  Rives
                                101  South  Capitol  Blvd.,  Suite  1900
                                Boise,  Idaho  83702-5958
                                Attention:  Paul  M.  Boyd,  Esq.
                                Fax:  208/389-9040
          If  to  Bank:         Wells  Fargo  Bank,  National  Association
                                Post Office Box 7069
                                Boise, Idaho 83730
                                Attention:  Regional  Corporate  Banking  Office
                                Fax:  208/393-2472
          With  a  copy  to:    Moffatt,  Thomas,  Barrett,  Rock  &  Fields,
                                 Chartered
                                101  S.  Capitol  Blvd.,  10th  Floor
                                P.O.  Box  829
                                Boise,  Idaho  83701-0829
                                Attention:  David  S.  Jensen
                                Fax:  208/385-5384

The  parties  may  change  the  address at which they are to receive notices and
other  communications  hereunder  by  notice  in writing in the foregoing manner
given  to the other. All notices or demands sent in accordance with this Section
shall  be deemed received on the earlier of the date of confirmed actual receipt
or  three  (3)  Business  Days  after  the  deposit thereof in the mail.

          10.3  NO  WAIVER.  No  failure  or  delay  on  the part of the Bank in
exercising  any  right,  power,  or  remedy  hereunder shall operate as a waiver
thereof;  nor  shall any single or partial exercise of any such right, power, or
remedy  preclude  any  other  or further exercise thereof or the exercise of any
other  right,  power,  or  remedy  hereunder.

          10.4  SUCCESSORS AND ASSIGNS. This Agreement shall be binding upon and
inure  to  the  benefit  of  the  Borrower  and  the  Bank  and their respective
successors  and assigns, except that the Borrower may not assign or transfer any
of  its  rights under any Loan Document to which the Borrower is a party without
the  prior  written  consent  of  the  Bank.

TERM  LOAN  AGREEMENT  -  33
<PAGE>
          10.5  INTEGRATION.  This  Agreement and the Loan Documents contain the
entire  agreement  between the parties relating to the subject matter hereof and
supersede  all  oral  statements  and  prior  writings  with  respect  thereto.

          10.6  APPLICATION OF PAYMENTS. Borrower waives the right to direct the
application  of  any and all payments at any time or times hereafter received by
Bank on account of the Obligations, and Borrower agrees that Bank shall have the
continuing  exclusive  right to apply and reapply such payments in any manner as
Bank  may  deem  advisable,  notwithstanding  any  entry by Bank upon its books.

          10.7  CONTINUING  WARRANTIES,  REPRESENTATIONS  AND  COVENANTS.  Each
warranty,  representation,  and  covenant  contained  in  this  Agreement  shall
continue until the Agreement is terminated and all Obligations have been paid or
satisfied in full and shall be conclusively presumed to have been relied upon by
Bank  regardless of any investigation made or information possessed by Bank. The
warranties,  representations, and covenants set forth herein shall be cumulative
and  in addition to any and all other warranties, representations, and covenants
that  Borrower shall give or cause to be given to Bank, either now or hereafter.

          10.8  INDEMNITY.  The  Borrower  shall defend, indemnify, and hold the
Bank  harmless  from  and  against  any  and  all  claims,  damages,  judgments,
penalties,  costs,  and expenses (including attorney fees and court costs now or
hereafter  arising  from  the  aforesaid  enforcement  of  this  clause) arising
directly or indirectly from the activities of the Borrower and its Subsidiaries,
its  predecessors  in  interest, or third parties with whom it has a contractual
relationship,  or  arising  directly  or  indirectly  from  the violation of any
environmental  protection,  health,  or  safety  law,  whether  such  claims are
asserted  by  any  governmental agency or any other person. This indemnity shall
survive  termination  of  this  Agreement  for  a  period  of  five  years.

          10.9  CHOICE  OF LAW AND VENUE. This Agreement is made in the state of
Idaho,  which  state  the  parties  agree  has a substantial relationship to the
parties  and  to the underlying transaction embodied hereby. Accordingly, in all
respects,  this  Agreement  and  the  Loan Documents and the obligations arising
hereunder and thereunder shall be governed by, and construed in accordance with,
the  laws  of  the  state of Idaho applicable to contracts made and performed in
such  state  and  any applicable law of the United States of America. Each party
hereby  unconditionally  and irrevocably waives, to the fullest extent permitted
by  law,  any  claim  to  assert that the law of any jurisdiction other than the
state  of  Idaho  governs this Agreement. All disputes, controversies, or claims
arising out of, or in connection with, this Agreement or any Loan Document shall
be  litigated  in any court of competent jurisdiction within the state of Idaho.
Each  party  hereby  accepts  jurisdiction  of  such  state and agrees to accept
service of process as if it were personally served within such state. Each party
irrevocably  waives,  to the fullest extent permitted by law, any objection that
the  party  may  now or hereafter have to the jurisdiction of the courts of such
state  and any claim that any such litigation brought in any such court has been
brought  in  an  inconvenient  forum.

TERM  LOAN  AGREEMENT  -  34
<PAGE>
          10.10  SEVERABILITY  OF PROVISIONS. Any provision of any Loan Document
that  is  prohibited  or  unenforceable  in  any  jurisdiction shall, as to such
jurisdiction,  be  ineffective  to  the  extent  of  such  prohibition  or
unenforceability  without  invalidating  the  remaining  provisions of such Loan
Document  or  affecting  the validity or enforceability of such provision in any
other  jurisdiction.

          10.11 HEADINGS. Article and Section headings in the Loan Documents are
included  in such Loan Documents for the convenience of reference only and shall
not  constitute  a  part of the applicable Loan Documents for any other purpose.

          10.12  JURY TRIAL WAIVER. THE BANK AND THE BORROWER HEREBY WAIVE TRIAL
BY  JURY  IN ANY ACTION, PROCEEDING, CLAIM, OR COUNTERCLAIM, WHETHER IN CONTRACT
OR  TORT,  AT  LAW  OR  IN  EQUITY, ARISING OUT OF OR IN ANY WAY RELATED TO THIS
AGREEMENT  OR  THE  LOAN  DOCUMENTS.

          10.13  DESTRUCTION  OF BORROWER'S DOCUMENTS. After notice to Borrower,
any  documents,  schedules,  invoices,  or other papers delivered to Bank may be
destroyed or otherwise disposed of by Bank at any time six (6) months after they
are  delivered  to  or received by Bank, unless Borrower requests in writing the
return  of  the  said  documents, schedules, invoices, or other papers and makes
arrangements  at  Borrower's  expense  for  their  return.

          10.14 PARTICIPATIONS. With Borrower's consent, which consent shall not
be  unreasonably  withheld,  Bank  may,  at any time, sell to one or more banks,
financial  institutions  or  other  Persons (each a "Participant") participating
interests in the Loan or any other interest of Bank under the Loan Documents. In
the  event  of  any such sale by Bank, Bank's obligations to Borrower under this
Agreement  shall  remain unchanged, Bank shall remain solely responsible for the
performance  thereof,  Bank shall remain the holder of the Loan for all purposes
under  the  Loan  Documents,  and  Borrower  shall  continue  to deal solely and
directly  with  Bank  in connection with the Bank's rights and obligations under
the  Loan  Documents.  If  Obligations  are  due  or  unpaid, or shall have been
declared  or shall have become due or unpaid, upon the occurrence of an Event of
Default,  each  Participant shall, to the maximum extent permitted by applicable
law,  be  deemed  to  have  the  right of setoff in respect of its participating
interest  in amounts owing under the Loan Documents to the same extent as if the
amount  of  its  participating  interest were owing directly to it as Bank under
this  Agreement.

               10.14.1 With  Borrower's  consent,  which  consent  shall  not be
unreasonably  withheld,  Borrower  authorizes  Bank to disclose to any actual or
prospective  Participant  and/or  assignee, any and all financial information in
Bank's  possession or known to Bank concerning Borrower, its affiliates, and the
Collateral  that has been delivered to Bank by or on behalf of Borrower pursuant
to  the  Loan  Documents  or  in  connection  with  Bank's  credit evaluation of
Borrower.

               10.14.2  Notwithstanding  any contrary provision of this Section,
Bank  shall  at  all  times  be  the lead lender (i.e., the sole party with whom
Borrower  needs  to  communicate)  with

TERM  LOAN  AGREEMENT  -  35
<PAGE>
respect  to  the  Loan,  and Borrower shall only be required to communicate with
Bank. Each Participant that receives confidential information regarding Borrower
or  the  Collateral must agree to use reasonable efforts to keep all information
acquired  by  it  in  connection with the Loan or Loan Documents and relating to
Borrower  and/or  the  collateral  confidential;  provided,  however,  that such
information  may be distributed by any Participant (i) pursuant to a court order
or  a  demand  made  by  any  governmental  agency or authority, or otherwise in
connection  with  litigation  or  as  otherwise  required by law, (ii) after the
occurrence  of  an  Event  of  Default, but only with respect to the Collateral,
(iii)  to  such  person's  consultants  or  professionals, as necessary, (iv) in
connection  with  a sale or participation of such person's interest in the Loan,
and  (v)  to  regulators  in  connection  with  audits.

          10.15  EFFECTIVE  DATE.  This  Agreement  shall  be binding and deemed
effective  as  of  the  date  first  written above when executed by Borrower and
accepted  and  executed  by  Bank.

          10.16  COUNTERPARTS.  This  Agreement may be executed in any number of
counterparts  and  delivered by facsimile transmission. Each counterpart when so
executed shall be deemed to be an original and all of which taken together shall
constitute  one  and  the  same  Agreement.

                            [Signature Page Follows]

TERM  LOAN  AGREEMENT  -  36
<PAGE>
          IN  WITNESS  WHEREOF,  Borrower  has  executed  this  Agreement.

                                         AMERICAN ECOLOGY CORPORATION

                                         By_______________________________
                                            James  R.  Baumgardner
                                            Sr.  Vice  President  and  CFO

<PAGE>
                               GUARANTOR'S CONSENT

          Each  Guarantor  consents  to,  acknowledges, and accepts the forgoing
Agreement.  Each Guarantor affirms and ratifies its Continuing and Unconditional
Guaranty  made  by  Guarantor  for  the  benefit  of  Bank (the "Guaranty"), and
confirms that the Guaranty remains in full force and effect and binding upon the
Guarantor  without  any  setoffs,  defenses,  or  counterclaims  of  any  kind
whatsoever. Each Guarantor also acknowledges and reaffirms all existing security
agreements, financing statements, and any other documents the Guarantor executed
in  connection  with  the  Guaranty.

Dated  as  of  October  28,  2002.

                                         GUARANTORS:

                                         AMERICAN ECOLOGY SERVICES CORPORATION

                                         By_______________________________
                                            James  R  Baumgardner
                                            Vice  President  and  Treasurer

                                         AMERICAN ECOLOGY MANAGEMENT CORPORATION

                                         By_______________________________
                                            James  R  Baumgardner
                                            Vice  President  and  Treasurer

TERM  LOAN  AGREEMENT  -  37
<PAGE>
                                         TEXAS  ECOLOGISTS,  INC

                                         By_______________________________
                                            James  R.  Baumgardner
                                            Vice  President  and  Treasurer

                                         AMERICAN ECOLOGY RECYCLE CENTER, INC.

                                         By_______________________________
                                            James  R,  Baumgardner
                                            Vice  President  and  Treasurer

                                         AMERICAN ECOLOGY ENVIRONMENTAL SERVICES
                                         CORPORATION

                                         By_______________________________
                                            James  R,  Baumgardner
                                            Vice  President  and  Treasurer

                                         US  ECOLOGY,  INC.

                                         By_______________________________
                                            James  R,  Baumgardner
                                            Vice  President  and  Treasurer

                                         US  ECOLOGY  IDAHO,  INC.

                                         By_______________________________
                                            James  R,  Baumgardner
                                            Vice  President  and  Treasurer

TERM  LOAN  AGREEMENT  -  38
<PAGE>
          ACCEPTED  AND  EFFECTIVE  as  of the 28th day of October, 2002, in the
state  of  Idaho.
                               BANK:     WELLS FARGO BANK, NATIONAL ASSOCIATION
                                         By_______________________________
                                         Dennis  C.  Spencer,  Vice  President

TERM  LOAN  AGREEMENT  -  39
<PAGE>
                                 EXHIBIT 2.1.1.2
                             LIBOR LOAN REQUEST FORM
                                     [DATE]
Wells  Fargo  Bank,  National  Association
P.O.  Box  7069
Boise,  ID   83830

Attention:  Regional  Corporate  Banking  Office

Ladies  &  Gentlemen:

We  refer  to the Term Loan Agreement (the "Agreement"), dated October 28, 2002,
between  Wells  Fargo  Bank,  National Association ("Bank") and American Ecology
Corporation ("Borrower"). Borrower requests that Bank make a LIBOR Loan pursuant
to  the  Agreement  and  specifies  as  follows:

1.     The  date  of  the  requested  Loan  is  to  be _____________________.

2.     The  amount  of  the  requested  Loan  is  to  be  $_________________.

3.     The  requested  Interest  Period  for  the  Loan  is ________________.

Borrower  certifies  to Bank, as of the date of this letter, that the warranties
and  representations set forth in the Agreement and the other Loan Documents are
true and correct, and that no Event of Default, as defined in the Agreement, has
occurred  and  is  continuing  or  would  result  from  the  requested  Loan.

                                     Very  truly  yours,

                                     AMERICAN  ECOLOGY  CORPORATION
                                     By_______________________________

                                     Name____________________________

                                     Title___________________________

EXHIBIT  2.1.1.2
<PAGE>
                                 EXHIBIT  2.1.3

                              FORM  OF  TERM  NOTE

          See  attached.

EXHIBIT  2.1.3
<PAGE>
                                    TERM NOTE

BORROWER:           AMERICAN  ECOLOGY  CORPORATION              OCTOBER  28,2002
                                                                    BOISE, IDAHO
ADDRESS:            300  E.  MALLARD,  SUITE  300
                    BOISE,  IDAHO  83706

PRINCIPAL AMOUNT:   SEVEN  MILLION  DOLLARS  ($7,000,000)

          FOR  VALUE  RECEIVED,  AMERICAN  ECOLOGY  CORPORATION,  a  Delaware
corporation  ("Borrower"),  promises  to  pay  to the order of WELLS FARGO BANK,
NATIONAL  ASSOCIATION  ("Bank")  the  total principal amount outstanding on this
note  (the  "Note")  together  with  interest thereon as stated below, in lawful
money  of  the  United  States  of  America.

          This  Note is executed pursuant to and is the Term Note referred to in
that  certain  Term Loan Agreement, dated October 28, 2002, between Borrower and
Bank  (as  amended,  modified,  or  supplemented  from time to time, the "Credit
Agreement").  Capitalized terms used but not defined in this Note shall have the
same  definitions  as  are  ascribed to such terms in the Credit Agreement. This
Note  is  governed  by  the  provisions  of  the  Credit  Agreement.

          The  outstanding  unpaid balance of this Note shall bear interest at a
fluctuating per annum rate as set forth in the Credit Agreement. This Note shall
be  repaid  in  the  manner  set  forth  in  the  Credit  Agreement.

          This  Note  is  secured,  in  part,  by  a Security Agreement covering
equipment  and other collateral as provided therein and in the Credit Agreement.

          This Note is made in the state of Idaho, which state the parties agree
has  a substantial relationship to the parties and to the underlying transaction
embodied  hereby.  Accordingly,  in  all respects, this Note and the obligations
arising  hereunder  shall  be governed by, and construed in accordance with, the
laws  of  the  state of Idaho applicable to contracts made and performed in such
state  and any applicable law of the United States of America. Each party hereby
unconditionally  and irrevocably waives, to the fullest extent permitted by law,
any  claim  to  assert  that the law of any jurisdiction other than the state of
Idaho  governs this Note. All disputes, controversies, or claims arising out of,
or  in  connection  with, this Note shall be litigated in any court of competent
jurisdiction  within  the state of Idaho. Each party hereby accepts jurisdiction
of  such  state and agrees to accept service of process as if it were personally
served  within  such state. Each party irrevocably waives, to the fullest extent
permitted  by law, any objection that the party may now or hereafter have to the
jurisdiction  of the courts of such state and any claim that any such litigation
brought  in  any  such  court  has  been  brought  in  an  inconvenient  forum.

          Except  as  expressly  provided  in  the Credit Agreement, the makers,
sureties,  guarantors  and  endorsers  of  this Note jointly and severally waive
presentment  for  payment,  protest,  notice  of

TERM  NOTE  -  1
<PAGE>
protest and notice of nonpayment of this Note, and consent that this Note or any
payment due under this Note may be extended or renewed without demand or notice,
and  further  consent  to the release of any collateral or part thereof, with or
without  substitution.

                                         AMERICAN  ECOLOGY  CORPORATION
                                         By_______________________________

                                            James  R.  Baumgardner
                                            Sr.  Vice  President  and  CFO

TERM  NOTE  -  2
<PAGE>
                                   EXHIBIT  3.1.2

                            FORM  OF  SECURITY  AGREEMENT

See  attached.

EXHIBIT  3.1.2-  FORM  OF  SECURITY  AGREEMENT
<PAGE>
                                   EXHIBIT  3.1.3

                       FORM  OF  GUARANTOR  SECURITY  AGREEMENTS

See  attached.

EXHIBIT  3.1.3-  FORM  OF  GUARANTOR  SECURITY  AGREEMENTS
<PAGE>
                                   EXHIBIT  3.1.4
           FORM  OF  OPINION  OF  COUNSEL  FOR  BORROWER  AND  GUARANTORS

See  attached.

EXHIBIT  3.1.4  -  FORM  OF  OPINION  OF  COUNSEL  FOR  BORROWER  AND GUARANTORS
<PAGE>

                                   EXHIBIT  4.13
                                       DEBT

EXHIBIT  4.13
<PAGE>
                                  EXHIBIT 4.17
                AMERICAN  ECOLOGY  CORPORATION  AND  SUBSIDIARIES
                                (AS OF 10/15/02)

                                                 PERCENTAGE
                                                  OF STOCK
                                         PARENT   OWNED BY
COMPANY  NAME/ADDRESSES                   CORP     PARENT    INCORP.
---------------------------------------  ------  ----------  ------------------
American  Ecology  Corporation  (AEC)      N/A      N/A      Delaware
300  E.  Mallard,  Suite  300                                3/23/87
Boise  ID  83706
                       EIN  95-3889638
---------------------------------------  ------  ----------  ------------------
American Ecology Environmental Services    AEC      100%     Texas
Corporation  (AEESC)                                         6/12/80
13640  Highway  155  North
Tyler  TX  75708                                             f/k/a
P.O.  Box  248                                               Gibraltar
Winona TX  75792                                             Chemical
                       EIN  75-1747175                       Resources, Inc.
                                                             (name  change
                                                             1/4/95)
---------------------------------------  ------  ----------  ------------------
American Ecology Management Corporation    AEC      100%     Delaware
(AEMC)               9/22/94
805  W.  Idaho
Suite  200
Boise  ID  83702
Inactive  Pending
---------------------------------------  ------  ----------  ------------------
American Ecology Recycle Center, Inc.      AEC      100%     Delaware
(AERC)                                                       3/31/94
109  Flint  Road
Oak  Ridge  TN  37830                                        d/b/a  US  Ecology
                       EIN  62-1568988                       Nuclear
                                                             Equipment  Service
                                                             Center  (4/8/96)
                                                             d/b/a  US  Ecology
                                                             Nuclear  Materials
                                                             Management
                                                             Center  (4/8/96)
---------------------------------------  ------  ----------  ------------------
American Ecology Services Corporation      AEC     100%      Delaware
(AESC)                                                       2/24/93
13  IN.  Richey Road
Pasadena  TX  77506
                       EIN  76-0400703
---------------------------------------  ------  ----------  ------------------
Texas  Ecologists,  Inc.  (TECO)           USE     100%      Texas
P.O.  Box  307                                               11/22/71
Robstown TX  78380
                       EIN 94-2 1643 12

<PAGE>
EXHIBIT  4.17
<PAGE>
                                                    PERCENTAGE
                                                     OF STOCK
                                         PARENT   OWNED BY
COMPANY  NAME/ADDRESSES                   CORP     PARENT    INCORP.
---------------------------------------  ------  ----------  ------------------
US  Ecology,  Inc.  (USE)                  AEC      100%     California
300  E.  Mallard  Drive,  Suite  300                         9/22/52
Boise  ID  83706
                                                             f/k/a
                                                             Nuclear
                                                             Engineering
                       EIN  94-1406536                       Company,  Inc.
                                                             (name  change
                                                             12/11/80)
---------------------------------------  ------  ----------  ------------------
US  Ecology  Idaho,  Inc.  (USEI)          AEC     100%      Delaware
P.O.  Box  400                                               12/26/01
Lemley  Road
Grand  View,  ID  83624                                      f/k/a
BIN  82-0365987                                              Envirosafe
                                                             Services of Idaho,
                                                             Inc.
                                                             (name  change
                                                             5/1/01)

EXHIBIT  4.17
<PAGE>
                                   EXHIBIT 6.1

                                 PERMITTED LIENS

          Liens existing as of the date of this Agreement that secure any of the
debts  described  in  the  attached  Exhibit  4.13.

EXHIBIT  6.1  -  PERMITTED  LIENS
<PAGE>
                                  EXHIBIT  6.10

                                  ERISA  PLANS

                             Pension  Benefit  Plans
American  Ecology  Corporation  401(k)  Savings  and  Retirement  Plan  #003

                             Welfare  Benefit  Plans

American  Ecology  Corporation  Flexible  Benefit  Plan  #501,  #502,  #503
American  Ecology  Corporation  Long-Term  Disability  Plan  #501
American  Ecology  Life  and  Accident  Plan  #502
American  Ecology  Corporation  Group  Insurance  Plan  #712
American  Ecology  Corporation  Short-Term  Disability  Plan

EXHIBIT  6.10  -  EMPLOYEE  BENEFIT  PLANS

<PAGE>

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