Document:

Exhibit 10.3

 

 

	
Banc of America Leasing & Capital, LLC
    	
 
    	
Equipment Security Note   Number 70001
    

 

This Equipment Security Note No. 70001, dated as of November 1, 2012, (this “Equipment Note”), is entered into pursuant to and incorporates by this reference all of the terms and provisions of that certain Master Loan and Security Agreement No. 25030-70000 dated as of November 1, 2012 (the “Master Agreement”), by and between Banc of America Leasing & Capital, LLC (“Lender”) and Stellaris LLC (“Co-Borrower”), James Construction Group, L.L.C. (“Co-Borrower”), Miller Springs Materials, L.L.C. (“Co-Borrower”) and Primoris Energy Services Corporation (“Co-Borrower”), (each a Co-Borrower herein, together referred to as “Borrower”).  All capitalized terms used herein and not defined herein shall have the respective meanings assigned to such terms in the Master Agreement. If any provision of this Equipment Note conflicts with any provision of the Master Agreement, the provisions contained in this Equipment Note shall prevail. Borrower hereby authorizes Lender to insert the serial numbers and other identification data of the Equipment, dates, and other omitted factual matters or descriptions in this Equipment Note.

 

The occurrence of an “Event of Default,” as defined in the Master Agreement, shall entitle Lender to accelerate the maturity of this Equipment Note and to declare the Prepayment Amount to be immediately due and payable, and to proceed at once to exercise each and every one of the remedies provided in the Master Agreement or otherwise available at law or in equity.  All of Borrower’s Obligations under this Equipment Note are absolute and unconditional, and shall not be subject to any offset or deduction whatsoever.  Borrower waives any right to assert, by way of counterclaim or affirmative defense in any action to enforce Borrower’s Obligations hereunder, any claim whatsoever against Lender.

 

1.                          Equipment Financed; Equipment Location; Grant of Security Interest.  Subject to the terms and provisions of the Master Agreement and as provided herein, Lender is providing financing in the principal amount described in Section 2 below to Borrower in connection with the acquisition or financing of the following described Equipment:

 

	
Quantity
    	
 
    	
Description
    	
 
    	
Serial Number
    	
 
    	
Cost
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
See Exhibit “A” attached hereto and made a part hereof.
    

 

Location of Equipment.  The Equipment will be located or (in the case of over-the-road vehicles) based at the following locations:

 

	
Location
    	
 
    	
Address
    	
 
    	
City
    	
 
    	
County
    	
 
    	
State
    	
 
    	
ZIP
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
See Exhibit “A” attached hereto and made a part hereof.
    

 

Borrower has agreed and does hereby grant a security interest in and to the Equipment and the Collateral related thereto, whether now owned or hereafter acquired and wherever located, in order to secure the payment and performance of all Obligations owing to Lender, including but not limited to this Equipment Note, all as more particularly provided in the Master Agreement.  Lender’s agreement to provide the financing contemplated herein shall be subject to the satisfaction of all conditions established by Lender and Lender’s prior receipt of all required documentation in form and substance satisfactory to Lender in its sole discretion.

 

2.                          Payments.  For value received, Borrower promises to pay to the order of Lender, the principal amount of $10,000,000.00, together with interest thereon as provided herein.  This Equipment Note shall be payable by Borrower to Lender in 84 (eighty four) consecutive monthly, installments of principal and interest (the “Payments”) commencing on December 7, 2012 (the “Initial Payment”) and continuing thereafter through and including November 7, 2019 (the “Maturity Date”) (collectively, the “Equipment Note Term”).  Each Payment shall be in the amount provided below, and due and payable on the same day of the month as the Initial Payment set forth above in each succeeding payment period (each, a “Payment Date”) during Equipment Note Term.  All interest hereunder shall be calculated on the basis of a year of 360 days comprised of 12 months of 30 days each.  The final Payment due and payable on the Maturity Date shall in any event be equal to the entire outstanding and unpaid principal amount of this Equipment Note, together with all accrued and unpaid interest, charges and other amounts owing hereunder and under the Master Agreement.

 

(a)  Interest Rate.  Interest shall accrue on the entire principal amount of this Equipment Note outstanding from time to time at a fixed rate of two and 23/100 percent (2.23%) per annum or, if less, the highest rate of interest permitted by applicable law (the “Interest Rate”), from the date hereof until the principal amount of this Equipment Note is paid in full, and shall be due and payable on each Payment Date.

 

(b)  Payment Amount.  The principal and interest amount of each Payment shall be $128,691.28.

 

1

 

3.                                      Prepayment.  Borrower may prepay all (but not less than all) of the outstanding principal balance of this Equipment Note on a scheduled Payment Date upon 30 days prior written notice from Borrower to Lender, provided that any such prepayment shall be made together with (a) all accrued interest and other charges and amounts owing hereunder through the date of prepayment, and (b) a prepayment charge calculated as follows: two percent (2.0%) of the amount prepaid during months one (1) through twelve (12), one percent (1.0%) of the amount prepaid during months thirteen (13) through thirty-six (36), and no prepayment penalty thereafter; provided, however, that, if any prepayment of this Equipment Note is made following an Event of Default, by reason of acceleration or otherwise, the prepayment charge shall be calculated based upon the full original Equipment Note Term.

 

4.                          Borrower Acknowledgements.  Upon delivery and acceptance of the Equipment, Borrower shall execute this Equipment Note evidencing the amounts financed by Lender in respect of such Equipment and the Payments of principal and interest hereunder.  By its execution and delivery of this Equipment Note, Borrower:

 

(a)                   reaffirms of all of Borrower’s representations, warranties and covenants as set forth in the Master Agreement and represents and warrants that no Default or Event of Default under the Master Agreement exists as of the date hereof;

 

(b)                   represents, warrants and agrees that: (i) the Equipment has been delivered and is in an operating condition and performing the operation for which it is intended to the satisfaction of Borrower; (ii) each item of Equipment has been unconditionally accepted by Borrower for all purposes under the Master Agreement and this Equipment Note; and (iii) there has been no material adverse change in the operations, business, properties or condition, financial or otherwise, of Borrower or any Guarantor since June 30, 2012;

 

(c)                    authorizes and directs Lender to advance the principal amount of this Equipment Note to reimburse Borrower or pay Vendors all or a portion of the purchase price of Equipment in accordance with Vendors’ invoices therefor, receipt and approval of which are hereby reaffirmed by Borrower; and

 

(d)         agrees that Borrower is absolutely and unconditionally obligated to pay Lender all Payments at the times and in the manner set forth herein.

 

5.                            Registration.

 

(a)         All items of Equipment that are motor vehicles shall at all times be registered and titled as follows:

 

	
(A)
    	
Registered   Owner.
    	
Miller Springs Materials, L.L.C.
    
	
 
    	
 
    	
11200 Industriplex Boulevard, Suite 150
    
	
 
    	
 
    	
Baton Rouge, LA 70809
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
James   Construction Group, L.L.C.
    
	
 
    	
 
    	
11200   Industriplex Blvd, Suite 150
    
	
 
    	
 
    	
Baton   Rouge, LA 70809
    
	
 
    	
 
    	
 
    
	
(B)
    	
Lienholder.
    	
Banc of America Leasing & Capital, LLC
    
	
 
    	
 
    	
2059   Northlake Parkway, 3rd Floor
    
	
 
    	
 
    	
Tucker,   GA 30084
    

 

(b)         Borrower shall be responsible for the correct titling of all such items of Equipment.  Borrower shall cause the original certificates of title to be delivered to Lender for retention in Lender’s files throughout the term of the Equipment Note All costs of such registration and licensing are for the account of Borrower.

 

 

	
BANC OF AMERICA LEASING & CAPITAL, LLC
    	
 
    	
Co-Borrower: STELLARIS LLC
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/ Freda Akuffo
    	
 
    	
By:
    	
Primoris Services Corporation (fka Primoris
    
	
 
    	
 
    	
 
    	
 
    	
Corporation), its Sole Member
    
	
Printed Name:
    	
Freda Akuffo
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
By:
    	
/s/ Alfons Theeuwes
    
	
Title:
    	
Assistant Vice President
    	
 
    	
Printed Name:
    	
Alfons Theeuwes
    
	
 
    	
 
    	
 
    	
Title:
    	
Senior Vice President
    
	
Advance   Date:
    	
11/7/2012
    	
 
    	
 
    
										

 

2

 

	
 
    	
 
    	
 
    	
Co-Borrower: JAMES CONSTRUCTION GROUP, L.L.C.  
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
By:
    	
/s/ Donald Bonaventure 
    
	
 
    	
 
    	
 
    	
Printed Name:
    	
Donald Bonaventure
    
	
 
    	
 
    	
 
    	
Title:
    	
Chief Financial Officer
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
Co-Borrower: MILLER   SPRINGS MATERIALS, L. L. C.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
By:
    	
BTEX   Materials, L.L.C., its Sole Member
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
By:
    	
/s/   Donald Bonaventure 
    
	
 
    	
 
    	
 
    	
 
    	
Print Name:
    	
Donald Bonaventure
    
	
 
    	
 
    	
 
    	
 
    	
Title:
    	
Chief Financial Officer
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
Co-Borrower: PRIMORIS ENERGY SERVICES CORPORATION
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
By:
    	
/s/   Donald Bonaventure
    
	
 
    	
 
    	
 
    	
Print   Name:
    	
Donald   Bonaventure
    
	
 
    	
 
    	
 
    	
Title:
    	
Chief   Financial Officer
    
													

 

3

 

Exhibit A

 

	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
Cost for
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
Serial/VIN
    	
 
    	
Note (total no more
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Year
    	
 
    	
Make
    	
 
    	
Model
    	
 
    	
Description/Body
    	
 
    	
number
    	
 
    	
than $10mm)
    	
 
    	
Equipment location
    	
 
    	
County
    	
 
    
	
Miller Spring Materials, L.L.C.
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
2013
    	
 
    	
KENWORTH
    	
 
    	
T800
    	
 
    	
TANDEM TRACTOR
    	
 
    	
1XKDDP9X2DJ356419
    	
 
    	
$
    	
110,807.55
    	
 
    	
6218 Hwy. 317, Temple,   TX 76502
    	
 
    	
Bell County TX
    	
 
    
	
2013
    	
 
    	
KENWORTH
    	
 
    	
T800
    	
 
    	
TANDEM TRACTOR
    	
 
    	
1XKDDP9X9DJ356420
    	
 
    	
$
    	
110,807.55
    	
 
    	
6218 Hwy. 317, Temple,   TX 76502
    	
 
    	
Bell County TX
    	
 
    
	
2013
    	
 
    	
KENWORTH
    	
 
    	
T800
    	
 
    	
TANDEM TRACTOR
    	
 
    	
1XKDDP9X0DJ356421
    	
 
    	
$
    	
110,807.55
    	
 
    	
6218 Hwy. 317, Temple,   TX 76502
    	
 
    	
Bell County TX
    	
 
    
	
2013
    	
 
    	
KENWORTH
    	
 
    	
T800
    	
 
    	
TANDEM TRACTOR
    	
 
    	
1XKDDP9X2DJ356422
    	
 
    	
$
    	
110,807.55
    	
 
    	
6218 Hwy. 317, Temple,   TX 76502
    	
 
    	
Bell County TX
    	
 
    
	
2013
    	
 
    	
KENWORTH
    	
 
    	
T800
    	
 
    	
TANDEM TRACTOR
    	
 
    	
1XKDDP9X4DJ356423
    	
 
    	
$
    	
110,807.55
    	
 
    	
6218 Hwy. 317, Temple,   TX 76502
    	
 
    	
Bell County TX
    	
 
    
	
2013
    	
 
    	
KENWORTH
    	
 
    	
T800
    	
 
    	
TANDEM TRACTOR
    	
 
    	
1XKDDP9X6DJ356424
    	
 
    	
$
    	
110,807.55
    	
 
    	
6218 Hwy. 317, Temple,   TX 76502
    	
 
    	
Bell County TX
    	
 
    
	
2013
    	
 
    	
KENWORTH
    	
 
    	
T800
    	
 
    	
TANDEM TRACTOR
    	
 
    	
1XKDDP9X8DJ356425
    	
 
    	
$
    	
110,807.55
    	
 
    	
6218 Hwy. 317, Temple,   TX 76502
    	
 
    	
Bell County TX
    	
 
    
	
2013
    	
 
    	
KENWORTH
    	
 
    	
T800
    	
 
    	
TANDEM TRACTOR
    	
 
    	
1XKDDP9XXDJ356426
    	
 
    	
$
    	
110,807.55
    	
 
    	
6218 Hwy. 317, Temple,   TX 76502
    	
 
    	
Bell County TX
    	
 
    
	
2013
    	
 
    	
KENWORTH
    	
 
    	
T800
    	
 
    	
TANDEM TRACTOR
    	
 
    	
1XKDDP9X1DJ356427
    	
 
    	
$
    	
110,807.55
    	
 
    	
6218 Hwy. 317, Temple,   TX 76502
    	
 
    	
Bell County TX
    	
 
    
	
2013
    	
 
    	
KENWORTH
    	
 
    	
T800
    	
 
    	
TANDEM TRACTOR
    	
 
    	
1XKDDP9X3DJ356428
    	
 
    	
$
    	
110,807.55
    	
 
    	
6218 Hwy. 317, Temple,   TX 76502
    	
 
    	
Bell County TX
    	
 
    
	
2012
    	
 
    	
Mate
    	
 
    	
DUMP TRAILER
    	
 
    	
26’ Quad Axle Frame   Trailers
    	
 
    	
1M9F2633XCH036696
    	
 
    	
$
    	
59,922.77
    	
 
    	
6218 Hwy. 317, Temple, TX   76502
    	
 
    	
Bell County TX
    	
 
    
	
2012
    	
 
    	
Mate
    	
 
    	
DUMP TRAILER
    	
 
    	
26’ Quad Axle Frame   Trailers
    	
 
    	
1M9F26332CH036697
    	
 
    	
$
    	
59,922.77
    	
 
    	
6218 Hwy. 317, Temple,   TX 76502
    	
 
    	
Bell County TX
    	
 
    
	
2012
    	
 
    	
Mate
    	
 
    	
DUMP TRAILER
    	
 
    	
26’ Quad Axle Frame   Trailers
    	
 
    	
1M9F26335CH036698
    	
 
    	
$
    	
59,922.77
    	
 
    	
6218 Hwy. 317, Temple,   TX 76502
    	
 
    	
Bell County TX
    	
 
    
	
2012
    	
 
    	
Mate
    	
 
    	
DUMP TRAILER
    	
 
    	
26’ Quad Axle Frame   Trailers
    	
 
    	
1M9F26338CH036699
    	
 
    	
$
    	
59,922.77
    	
 
    	
6218 Hwy. 317, Temple,   TX 76502
    	
 
    	
Bell County TX
    	
 
    
	
2012
    	
 
    	
Mate
    	
 
    	
DUMP TRAILER
    	
 
    	
26’ Quad Axle Frame   Trailers
    	
 
    	
1M9F26339CH036701
    	
 
    	
$
    	
59,922.77
    	
 
    	
6218 Hwy. 317, Temple,   TX 76502
    	
 
    	
Bell County TX
    	
 
    
	
2012
    	
 
    	
Mate
    	
 
    	
DUMP TRAILER
    	
 
    	
26’ Quad Axle Frame   Trailers
    	
 
    	
1M9F26331CH036702
    	
 
    	
$
    	
59,922.77
    	
 
    	
6218 Hwy. 317, Temple,   TX 76502
    	
 
    	
Bell County TX
    	
 
    
	
2012
    	
 
    	
Mate
    	
 
    	
DUMP TRAILER
    	
 
    	
26’ Quad Axle Frame   Trailers
    	
 
    	
1M9F26333CH036703
    	
 
    	
$
    	
59,922.77
    	
 
    	
6218 Hwy. 317, Temple,   TX 76502
    	
 
    	
Bell County TX
    	
 
    
	
2012
    	
 
    	
Mate
    	
 
    	
DUMP TRAILER
    	
 
    	
26’ Quad Axle Frame   Trailers
    	
 
    	
1M9F26333CH036704
    	
 
    	
$
    	
59,922.77
    	
 
    	
6218 Hwy. 317, Temple,   TX 76502
    	
 
    	
Bell County TX
    	
 
    
	
2012
    	
 
    	
Mate
    	
 
    	
DUMP TRAILER
    	
 
    	
26’ Quad Axle Frame   Trailers
    	
 
    	
1M9F26333CH036705
    	
 
    	
$
    	
59,922.77
    	
 
    	
6218 Hwy. 317, Temple,   TX 76502
    	
 
    	
Bell County TX
    	
 
    
	
2012
    	
 
    	
Mate
    	
 
    	
DUMP TRAILER
    	
 
    	
26’ Quad Axle Frame   Trailers
    	
 
    	
1M9F26333CH036706
    	
 
    	
$
    	
59,922.77
    	
 
    	
6218 Hwy. 317, Temple,   TX 76502
    	
 
    	
Bell County TX
    	
 
    
	
2006
    	
 
    	
Eagle
    	
 
    	
33D5500
    	
 
    	
CHASSIS 1 AXLE EAGLE   PLANT PRIMARY
    	
 
    	
30355
    	
 
    	
$
    	
16,178.01
    	
 
    	
6218 Hwy. 317, Temple,   TX 76502
    	
 
    	
Bell County TX
    	
 
    
	
2006
    	
 
    	
Eagle
    	
 
    	
33D5500
    	
 
    	
5 BY 16 2D SCREW
    	
 
    	
30355
    	
 
    	
$
    	
17,756.36
    	
 
    	
6218 Hwy. 317, Temple,   TX 76502
    	
 
    	
Bell County TX
    	
 
    
	
2006
    	
 
    	
Eagle
    	
 
    	
33D5500
    	
 
    	
CONVEYOR 30 BY 50 EAGLE   PLANT
    	
 
    	
30355
    	
 
    	
$
    	
20,044.95
    	
 
    	
6218 Hwy. 317, Temple,   TX 76502
    	
 
    	
Bell County TX
    	
 
    
	
2006
    	
 
    	
Eagle
    	
 
    	
33D5500
    	
 
    	
FEEDER 45 BY 16
    	
 
    	
30355
    	
 
    	
$
    	
37,485.64
    	
 
    	
6218 Hwy. 317, Temple,   TX 76502
    	
 
    	
Bell County TX
    	
 
    
	
2006
    	
 
    	
Eagle
    	
 
    	
33D5500
    	
 
    	
IM 25 IMPACR CRUSHER
    	
 
    	
30355
    	
 
    	
$
    	
80,890.07
    	
 
    	
6218 Hwy. 317, Temple,   TX 76502
    	
 
    	
Bell County TX
    	
 
    
	
2006
    	
 
    	
Eagle
    	
 
    	
33D5500
    	
 
    	
CHASSIS EAGLE PLANT
    	
 
    	
30355
    	
 
    	
$
    	
127,253.89
    	
 
    	
6218 Hwy. 317, Temple,   TX 76502
    	
 
    	
Bell County TX
    	
 
    
	
2006
    	
 
    	
Eagle
    	
 
    	
33D5500
    	
 
    	
CRUSHER
    	
 
    	
30355
    	
 
    	
$
    	
15,044.82
    	
 
    	
6218 Hwy. 317, Temple,   TX 76502
    	
 
    	
Bell County TX
    	
 
    
	
2006
    	
 
    	
Eagle
    	
 
    	
33D5500
    	
 
    	
ENGINE FOR CRUSHER
    	
 
    	
30355
    	
 
    	
$
    	
24,533.18
    	
 
    	
6218 Hwy. 317, Temple,   TX 76502
    	
 
    	
Bell County TX
    	
 
    
	
1990
    	
 
    	
Excel
    	
 
    	
25 IMPACT   HORIZONTAL
    	
 
    	
CRUSHER EXCEL 25 IMPACT
    	
 
    	
J1090113D
    	
 
    	
$
    	
59,187.85
    	
 
    	
6218 Hwy. 317, Temple,   TX 76502
    	
 
    	
Bell County TX
    	
 
    
	
2002
    	
 
    	
Excel
    	
 
    	
4300
    	
 
    	
EXCEL 4300 CRUSHER W 2   CONVEYORS
    	
 
    	
J0402593D
    	
 
    	
$
    	
104,811.82
    	
 
    	
6218 Hwy. 317, Temple,   TX 76502
    	
 
    	
Bell County TX
    	
 
    
	
1999
    	
 
    	
Teledyne
    	
 
    	
725X
    	
 
    	
HYDRAULIC   HAMMER & STAND WITH BOOM
    	
 
    	
1999058-1
    	
 
    	
$
    	
74,215.40
    	
 
    	
6218 Hwy. 317, Temple,   TX 76502
    	
 
    	
Bell County TX
    	
 
    
	
2005
    	
 
    	
Caterpillar
    	
 
    	
980G
    	
 
    	
Wheel Loader 980
    	
 
    	
AWH02257
    	
 
    	
$
    	
123,645.56
    	
 
    	
6218 Hwy. 317, Temple,   TX 76502
    	
 
    	
Bell County TX
    	
 
    
	
2003
    	
 
    	
PUGMILL
    	
 
    	
1000SS
    	
 
    	
PUG MILL 1000SS
    	
 
    	
1439
    	
 
    	
$
    	
284,361.74
    	
 
    	
6218 Hwy. 317, Temple,   TX 76502
    	
 
    	
Bell County TX
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
$
    	
2,692,712.49
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
James Consturction Group, LLC
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
1997
    	
 
    	
BADGER
    	
 
    	
N/A
    	
 
    	
BREAKER
    	
 
    	
BB8607
    	
 
    	
$
    	
59,187.85
    	
 
    	
2201 Hwy 33 North   Ruston, LA 71270
    	
 
    	
Caddo Parish LA
    	
 
    
	
1997
    	
 
    	
INTL
    	
 
    	
S2000/4700
    	
 
    	
DISTRIBUTOR TRUCK
    	
 
    	
1HTSCABN3VH458786
    	
 
    	
$
    	
49,323.21
    	
 
    	
7600 I-H 35 Belton, TX   76513
    	
 
    	
Bell County TX
    	
 
    
	
2002
    	
 
    	
STERLING
    	
 
    	
3500
    	
 
    	
STERLING WITH ETNYRE   DIST.
    	
 
    	
2FZHAWBS02AJ72122
    	
 
    	
$
    	
59,187.85
    	
 
    	
6130 FM 2218 Richmond,   TX 77469
    	
 
    	
Fort Bend County TX
    	
 
    
	
2006
    	
 
    	
STER
    	
 
    	
ETNYRE 2000
    	
 
    	
DISTRIBUTOR TRUCK
    	
 
    	
2FZAASDC36AW73589
    	
 
    	
$
    	
47,443.40
    	
 
    	
5505 Old Mooringsport Rd   Shreveport, LA 71107
    	
 
    	
Caddo Parish LA
    	
 
    
	
2001
    	
 
    	
INTL
    	
 
    	
H288600/M4690
    	
 
    	
ETNYRE DISTRIBUTOR
    	
 
    	
1HTSCABN81H288600
    	
 
    	
$
    	
73,984.82
    	
 
    	
6130 FM 2218 Richmond,   TX 77469
    	
 
    	
Fort Bend County TX
    	
 
    
	
2004
    	
 
    	
FORD
    	
 
    	
F750 W/2000 GAL   TANK
    	
 
    	
DISTRIBUTOR
    	
 
    	
3FRXF75N24V685273
    	
 
    	
$
    	
49,323.21
    	
 
    	
6130 FM 2218 Richmond,   TX 77469
    	
 
    	
Fort Bend County TX
    	
 
    
	
1995
    	
 
    	
INTL
    	
 
    	
4700
    	
 
    	
DISTRIBUTOR
    	
 
    	
1HTSCAAN1SH629743
    	
 
    	
$
    	
24,661.61
    	
 
    	
6130 FM 2218 Richmond,   TX 77469
    	
 
    	
Fort Bend County TX
    	
 
    
	
2009
    	
 
    	
INTL
    	
 
    	
7300
    	
 
    	
FUEL/LUBE TRUCK 4X4 7300
    	
 
    	
1HTWBAANX9J134223
    	
 
    	
$
    	
69,052.50
    	
 
    	
525 COUNTY RD 640 E;   MULBERRY, FL 33860
    	
 
    	
Hillsborough County FL
    	
 
    
	
2010
    	
 
    	
KENWORTH
    	
 
    	
T370
    	
 
    	
FUEL/LUBE TRUCK
    	
 
    	
2NKHHN7X1AM262463
    	
 
    	
$
    	
64,120.17
    	
 
    	
2220 Mine View Road   Bowling Green, FL
    	
 
    	
Hardee County FL
    	
 
    
	
2009
    	
 
    	
KENWORTH
    	
 
    	
T370
    	
 
    	
FUEL LUBE TRUCK
    	
 
    	
2NKHHN7X29M246168
    	
 
    	
$
    	
75,316.22
    	
 
    	
11603 Windfren Rd   Houston TX 77064
    	
 
    	
Harris County TX
    	
 
    
	
2011
    	
 
    	
KENWORTH
    	
 
    	
T370
    	
 
    	
LUBE TRUCK
    	
 
    	
2NKHHN7X7BM274957
    	
 
    	
$
    	
78,460.04
    	
 
    	
5705 Belcher Oil City   Road, Belcher, LA 71104
    	
 
    	
Lincoln Parish LA
    	
 
    
	
2011
    	
 
    	
KENWORTH
    	
 
    	
T370
    	
 
    	
LUBE TRUCK
    	
 
    	
2NKHHN7X9BM274958
    	
 
    	
$
    	
72,063.18
    	
 
    	
5880 Hwy 190W Belton, TX   76513
    	
 
    	
Williamson County TX
    	
 
    
	
2012
    	
 
    	
KENWORTH
    	
 
    	
T370
    	
 
    	
FUEL LUBE TRUCK
    	
 
    	
2NKHHN7XXCM308990
    	
 
    	
$
    	
86,711.26
    	
 
    	
37110 Hwy 30 Geismer, LA   70734
    	
 
    	
Fort Bend County TX
    	
 
    
	
2012
    	
 
    	
KENWORTH
    	
 
    	
T370
    	
 
    	
FUEL LUBE TRUCK
    	
 
    	
2NKHHN7X0CM326401
    	
 
    	
$
    	
158,335.55
    	
 
    	
5880 Hwy 190W Belton, TX   76513
    	
 
    	
Fort Bend County TX
    	
 
    

 

 

	
2013
    	
 
    	
KENWORTH
    	
 
    	
T370
    	
 
    	
LUBE TRUCK
    	
 
    	
2NKHHN7X3DM356249
    	
 
    	
$
    	
79,797.43
    	
 
    	
7600 I-H 35 Belton, TX   76513
    	
 
    	
Bell County TX
    	
 
    
	
2013
    	
 
    	
KENWORTH
    	
 
    	
T370
    	
 
    	
LUBE TRUCK
    	
 
    	
2NKHHN7X1DM356248
    	
 
    	
$
    	
79,797.43
    	
 
    	
5880 Hwy 190W Belton, TX   76513
    	
 
    	
Fort Bend County TX
    	
 
    
	
2003
    	
 
    	
MACK
    	
 
    	
CH613
    	
 
    	
DUMP TRUCK
    	
 
    	
1M2AA18Y03W152990
    	
 
    	
$
    	
49,323.21
    	
 
    	
1406 Mashburn Rd.   Copperas Cove, TX 76522
    	
 
    	
Bell County TX
    	
 
    
	
2003
    	
 
    	
INTL
    	
 
    	
9100
    	
 
    	
TANDEM DUMP TRUCK
    	
 
    	
2HSCAAXN63C051962
    	
 
    	
$
    	
36,045.11
    	
 
    	
1406 Mashburn Rd.   Copperas Cove, TX 76522
    	
 
    	
Fort Bend County TX
    	
 
    
	
2013
    	
 
    	
KENWORTH
    	
 
    	
T370
    	
 
    	
WATER TRUCK
    	
 
    	
2NKHLN9X3DM350012
    	
 
    	
$
    	
134,755.33
    	
 
    	
2201 Hwy 33 North   Ruston, LA 71270
    	
 
    	
Lincoln Parish LA
    	
 
    
	
2001
    	
 
    	
KENWORTH
    	
 
    	
W900
    	
 
    	
WATER TRUCK
    	
 
    	
1NKWLT0X21J881018
    	
 
    	
$
    	
76,804.85
    	
 
    	
5505 Old Mooringsport Rd   Shreveport, LA 71107
    	
 
    	
Caddo Parish LA
    	
 
    
	
2006
    	
 
    	
INTL
    	
 
    	
9200
    	
 
    	
WATER TRUCK
    	
 
    	
2HSCEAPR56C287885
    	
 
    	
$
    	
76,565.41
    	
 
    	
1406 Mashburn Rd.   Copperas Cove, TX 76522
    	
 
    	
Coryell County TX
    	
 
    
	
2006
    	
 
    	
INTL
    	
 
    	
9200
    	
 
    	
WATER TRUCK
    	
 
    	
2HSCEAPR96C319057
    	
 
    	
$
    	
76,565.41
    	
 
    	
105 E. Big Elm Road   Troy, Tx 76579
    	
 
    	
McLennan County TX
    	
 
    
	
2006
    	
 
    	
VIKING
    	
 
    	
4000CF
    	
 
    	
CEMENT PIG
    	
 
    	
1T9SS56197R719442
    	
 
    	
$
    	
34,526.25
    	
 
    	
5705 Belcher Oil City   Road, Belcher, LA 71104
    	
 
    	
East Baton Rouge Parish   LA
    	
 
    
	
2012
    	
 
    	
Klein
    	
 
    	
FPT 120
    	
 
    	
ELEVATING WATER TANK
    	
 
    	
17046055
    	
 
    	
$
    	
40,965.64
    	
 
    	
105 E. Big Elm Road   Troy, Tx 76579
    	
 
    	
Bell County TX
    	
 
    
	
1999
    	
 
    	
GOMACO
    	
 
    	
TC600
    	
 
    	
TEXTURE CURE MACHINE
    	
 
    	
904400039
    	
 
    	
$
    	
63,683.17
    	
 
    	
5505 Old Mooringsport Rd   Shreveport, LA 71107
    	
 
    	
Caddo Parish LA
    	
 
    
	
1985
    	
 
    	
CMI
    	
 
    	
TC250
    	
 
    	
TEXTURE CURE MACHINE
    	
 
    	
7HC00142
    	
 
    	
$
    	
27,293.49
    	
 
    	
7600 I-H 35 Belton, TX   76513
    	
 
    	
Bell County TX
    	
 
    
	
2012
    	
 
    	
CAT
    	
 
    	
140M
    	
 
    	
MOTOR GRADER
    	
 
    	
M9D00875
    	
 
    	
$
    	
326,555.98
    	
 
    	
105 E. Big Elm Road   Troy, Tx 76579
    	
 
    	
Bell County TX
    	
 
    
	
2005
    	
 
    	
GOMACO
    	
 
    	
Gomaco 9500
    	
 
    	
PLACER TRIMMER
    	
 
    	
905500145
    	
 
    	
$
    	
426,716.89
    	
 
    	
10918 South Reitz Rd,   BR, LA 70809
    	
 
    	
East Baton Rouge Parish   LA
    	
 
    
	
2002
    	
 
    	
WIRTGEN
    	
 
    	
W2100-7 1/4’
    	
 
    	
MILLING MACHINE
    	
 
    	
9.21.0058
    	
 
    	
$
    	
147,969.63
    	
 
    	
6130 FM 2218 Richmond,   TX 77469
    	
 
    	
Austin County TX
    	
 
    
	
2011
    	
 
    	
APE
    	
 
    	
150
    	
 
    	
HAMMER
    	
 
    	
201111138
    	
 
    	
$
    	
199,273.17
    	
 
    	
100 Oak Lane Ste 3   Luling, LA 70070
    	
 
    	
St Charles Parish LA
    	
 
    
	
1998
    	
 
    	
CAT
    	
 
    	
416C
    	
 
    	
BACKHOE 416C 2WD ES GP
    	
 
    	
5YN06735
    	
 
    	
$
    	
24,661.61
    	
 
    	
7600 I-H 35 Belton, TX   76513
    	
 
    	
Bell County TX
    	
 
    
	
2006
    	
 
    	
CAT
    	
 
    	
420E
    	
 
    	
BACKHOE 420E IT 4X4
    	
 
    	
KMW01074
    	
 
    	
$
    	
49,323.21
    	
 
    	
7600 I-H 35 Belton, TX   76513
    	
 
    	
Bell County TX
    	
 
    
	
2005
    	
 
    	
CAT
    	
 
    	
420D IT 4E
    	
 
    	
BACKHOE 420D IT 4X4
    	
 
    	
BLN12673
    	
 
    	
$
    	
44,390.89
    	
 
    	
5880 Hwy 190W Belton, TX   76513
    	
 
    	
Bell County TX
    	
 
    
	
2005
    	
 
    	
CAT
    	
 
    	
420D IT
    	
 
    	
BACKHOE 420D IT 4X4
    	
 
    	
BLN12985
    	
 
    	
$
    	
44,390.89
    	
 
    	
11603 Windfren Rd   Houston TX 77064
    	
 
    	
Harris County TX
    	
 
    
	
2006
    	
 
    	
CAT
    	
 
    	
420E IT 4X
    	
 
    	
BACKHOE 420E IT 4X4
    	
 
    	
KMW01185
    	
 
    	
$
    	
49,323.21
    	
 
    	
5880 Hwy 190W Belton, TX   76513
    	
 
    	
Williamson County TX
    	
 
    
	
2005
    	
 
    	
CAT
    	
 
    	
416D
    	
 
    	
BACKHOE 416D
    	
 
    	
BFP14040
    	
 
    	
$
    	
36,992.41
    	
 
    	
105 E. Big Elm Road   Troy, Tx 76579
    	
 
    	
McLennan County TX
    	
 
    
	
2007
    	
 
    	
CAT
    	
 
    	
420E IT
    	
 
    	
BACKHOE 420E IT 4X4
    	
 
    	
KMW1249
    	
 
    	
$
    	
54,255.53
    	
 
    	
7600 I-H 35 Belton, TX   76513
    	
 
    	
Bell County TX
    	
 
    
	
2008
    	
 
    	
CAT
    	
 
    	
420E IT
    	
 
    	
BACKHOE
    	
 
    	
KMW02857
    	
 
    	
$
    	
43,893.46
    	
 
    	
5705 Belcher Oil City   Road, Belcher, LA 71104
    	
 
    	
Caddo Parish LA
    	
 
    
	
2007
    	
 
    	
CAT
    	
 
    	
TL642
    	
 
    	
TELEHANDLER TL642
    	
 
    	
TBK00170
    	
 
    	
$
    	
46,857.05
    	
 
    	
7600 I-H 35 Belton, TX   76513
    	
 
    	
Bell County TX
    	
 
    
	
2012
    	
 
    	
CAT
    	
 
    	
966K
    	
 
    	
WHEEL LOADER
    	
 
    	
TFS00202
    	
 
    	
$
    	
304,200.83
    	
 
    	
5505 Old Mooringsport Rd   Shreveport, LA 71107
    	
 
    	
Caddo Parish LA
    	
 
    
	
2012
    	
 
    	
CAT
    	
 
    	
938K IT
    	
 
    	
WHEEL LOADER
    	
 
    	
SWL00366
    	
 
    	
$
    	
193,257.20
    	
 
    	
7600 I-H 35 Belton, TX   76513
    	
 
    	
Bell County TX
    	
 
    
	
2012
    	
 
    	
CAT
    	
 
    	
938 IT
    	
 
    	
WHEEL LOADER
    	
 
    	
SWL00494
    	
 
    	
$
    	
198,982.71
    	
 
    	
105 E. Big Elm Road   Troy, Tx 76579
    	
 
    	
Bell County TX
    	
 
    
	
2012
    	
 
    	
CAT
    	
 
    	
623H
    	
 
    	
SCRAPER
    	
 
    	
DBF00119
    	
 
    	
$
    	
611,512.14
    	
 
    	
105 E. Big Elm Road   Troy, Tx 76579
    	
 
    	
Bell County TX
    	
 
    
	
2010
    	
 
    	
UFC
    	
 
    	
835
    	
 
    	
STRIPPING BUGGY
    	
 
    	
W10-162
    	
 
    	
$
    	
66,323.06
    	
 
    	
37110 Hwy 30 Geismer, LA   70734
    	
 
    	
Ascension Parish LA
    	
 
    
	
2005
    	
 
    	
ROADTEC
    	
 
    	
SB-2500C
    	
 
    	
SHUTTLE BUGGY
    	
 
    	
809
    	
 
    	
$
    	
172,631.24
    	
 
    	
6130 FM 2218 Richmond,   TX 77469
    	
 
    	
Fort Bend County TX
    	
 
    
	
2004
    	
 
    	
INGERSOLL RAND
    	
 
    	
PT240R
    	
 
    	
ROLLER
    	
 
    	
178449
    	
 
    	
$
    	
39,458.57
    	
 
    	
105 E. Big Elm Road   Troy, Tx 76579
    	
 
    	
Bell County TX
    	
 
    
	
2000
    	
 
    	
INGERSOLL RAND
    	
 
    	
PT125R
    	
 
    	
ROLLER
    	
 
    	
162764
    	
 
    	
$
    	
29,593.93
    	
 
    	
6130 FM 2218 Richmond,   TX 77469
    	
 
    	
Fort Bend County TX
    	
 
    
	
2004
    	
 
    	
INGERSOLL RAND
    	
 
    	
PT240
    	
 
    	
ROLLER
    	
 
    	
168449
    	
 
    	
$
    	
39,458.57
    	
 
    	
105 E. Big Elm Road   Troy, Tx 76579
    	
 
    	
Bell County TX
    	
 
    
	
2000
    	
 
    	
INGERSOLL RAND
    	
 
    	
PT125R
    	
 
    	
ROLLER
    	
 
    	
162542
    	
 
    	
$
    	
29,593.93
    	
 
    	
6130 FM 2218 Richmond,   TX 77469
    	
 
    	
Fort Bend County TX
    	
 
    
	
2012
    	
 
    	
CAT
    	
 
    	
PS360C
    	
 
    	
PNEUMATIC ROLLER
    	
 
    	
PJF00718
    	
 
    	
$
    	
136,583.23
    	
 
    	
1406 Mashburn Rd.   Copperas Cove, TX 76522
    	
 
    	
Coryell County TX
    	
 
    
	
2000
    	
 
    	
BLAWKNOX
    	
 
    	
RW195
    	
 
    	
ROAD WIDENER
    	
 
    	
19527-46
    	
 
    	
$
    	
147,969.63
    	
 
    	
6130 FM 2218 Richmond,   TX 77469
    	
 
    	
Fort Bend County TX
    	
 
    
	
2006
    	
 
    	
ETNYRE
    	
 
    	
R6849
    	
 
    	
CHIPSPREADER
    	
 
    	
K6511
    	
 
    	
$
    	
98,646.42
    	
 
    	
6130 FM 2218 Richmond,   TX 77469
    	
 
    	
Fort Bend County TX
    	
 
    
	
2006
    	
 
    	
BLAWKNOX
    	
 
    	
PF3200
    	
 
    	
ASPHALT PAVER
    	
 
    	
187356
    	
 
    	
$
    	
49,323.21
    	
 
    	
6130 FM 2218 Richmond,   TX 77469
    	
 
    	
Fort Bend County TX
    	
 
    
	
2007
    	
 
    	
BLAWKNOX
    	
 
    	
PF3200
    	
 
    	
ASPHALT PAVER
    	
 
    	
191810
    	
 
    	
$
    	
59,187.85
    	
 
    	
6130 FM 2218 Richmond,   TX 77469
    	
 
    	
Fort Bend County TX
    	
 
    
	
2011
    	
 
    	
CAT
    	
 
    	
RM500
    	
 
    	
STABILIZER
    	
 
    	
ASW00407
    	
 
    	
$
    	
416,002.12
    	
 
    	
5705 Belcher Oil City   Road, Belcher, LA 71104
    	
 
    	
Caddo Parish LA
    	
 
    
	
2004
    	
 
    	
CMI
    	
 
    	
RS-425B
    	
 
    	
MIXER/RECLAIMER
    	
 
    	
526-285
    	
 
    	
$
    	
98,646.42
    	
 
    	
105 E. Big Elm Road   Troy, Tx 76579
    	
 
    	
Bell County TX
    	
 
    
	
2005
    	
 
    	
CAT
    	
 
    	
D4G
    	
 
    	
DOZER D4G LGP
    	
 
    	
TLX00743
    	
 
    	
$
    	
59,187.85
    	
 
    	
100 Oak Lane Ste 3   Luling, LA 70070
    	
 
    	
Ascension Parish LA
    	
 
    
	
2005
    	
 
    	
CAT
    	
 
    	
D5G LGP
    	
 
    	
DOZER D5G LGP
    	
 
    	
RKG01992
    	
 
    	
$
    	
59,187.85
    	
 
    	
1101 West Oak Street   Suite 1 Amite, La 70422
    	
 
    	
Washington Parish LA
    	
 
    
	
2010
    	
 
    	
CAT
    	
 
    	
D5K LGP
    	
 
    	
D5K LGP DOZER
    	
 
    	
YYY00893
    	
 
    	
$
    	
95,431.34
    	
 
    	
10918 South Reitz Rd,   BR, LA 70809
    	
 
    	
East Baton Rouge Parish   LA
    	
 
    
	
2012
    	
 
    	
CAT
    	
 
    	
D3K XL
    	
 
    	
Dozer
    	
 
    	
FFF00813
    	
 
    	
$
    	
98,212.38
    	
 
    	
7600 I-H 35 Belton, TX   76513
    	
 
    	
Bell County TX
    	
 
    
	
2012
    	
 
    	
CAT
    	
 
    	
D3K XL
    	
 
    	
Dozer
    	
 
    	
FFF00811
    	
 
    	
$
    	
98,212.38
    	
 
    	
105 E. Big Elm Road   Troy, Tx 76579
    	
 
    	
Bell County TX
    	
 
    
	
2005
    	
 
    	
MASSEY FERGERSON
    	
 
    	
5455
    	
 
    	
TRACTOR WITH SIDE BOOM   MOWER
    	
 
    	
S281089
    	
 
    	
$
    	
62,706.08
    	
 
    	
7502 River Road Uncle   Sam, LA
    	
 
    	
St James Parish LA
    	
 
    
	
2006
    	
 
    	
CHIEFTAN
    	
 
    	
140 TRAX
    	
 
    	
POWERSCREEN
    	
 
    	
6619360
    	
 
    	
$
    	
78,917.14
    	
 
    	
6130 FM 2218 Richmond,   TX 77469
    	
 
    	
Fort Bend County TX
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
$
    	
6,481,123.61
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Primoris Energy Services Corporation
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
2007
    	
 
    	
John Deere
    	
 
    	
544J
    	
 
    	
Bucket Loader (HR)
    	
 
    	
614338
    	
 
    	
$
    	
73,984.82
    	
 
    	
2165 FM 523, Oyster   creek, TX 77541
    	
 
    	
DOW
    	
 
    
	
2009
    	
 
    	
Caterpillar
    	
 
    	
TL943
    	
 
    	
Telehandler
    	
 
    	
TBL01412
    	
 
    	
$
    	
73,984.82
    	
 
    	
201 Anthony Rd,   Victoria, TX 77901
    	
 
    	
VICTORIA
    	
 
    
	
2007
    	
 
    	
Caterpillar
    	
 
    	
930G
    	
 
    	
Wheel Loader
    	
 
    	
TWR02851
    	
 
    	
$
    	
73,984.82
    	
 
    	
1010 County Rd 59,   Rosharon, TX 77583
    	
 
    	
HOUSTON
    	
 
    
	
2008
    	
 
    	
PAI
    	
 
    	
70HP 5000
    	
 
    	
Pressure Pump
    	
 
    	
KP2331BC
    	
 
    	
$
    	
64,120.17
    	
 
    	
11511 FM 365, Beaumont,   TX 77705
    	
 
    	
BMT
    	
 
    
	
2010
    	
 
    	
GIANT
    	
 
    	
P460A
    	
 
    	
PRESSURE PUMP
    	
 
    	
102-8611
    	
 
    	
$
    	
64,120.17
    	
 
    	
11511 FM 365, Beaumont,   TX 77705
    	
 
    	
BMT
    	
 
    
	
2010
    	
 
    	
Caterpillar
    	
 
    	
420
    	
 
    	
Rubber Tire Backhoe
    	
 
    	
PRA01533
    	
 
    	
$
    	
59,187.85
    	
 
    	
2165 FM 523, Oyster   creek, TX 77541
    	
 
    	
HOUSTON
    	
 
    

 

 

	
2008
    	
 
    	
PAI
    	
 
    	
DMD900
    	
 
    	
Fill Pump
    	
 
    	
SC C062288 01
    	
 
    	
$
    	
59,187.85
    	
 
    	
620 North Road,   Kennedale, TX 76060
    	
 
    	
BMT
    	
 
    
	
2004
    	
 
    	
Ingersoll-Rand
    	
 
    	
320
    	
 
    	
Excavator
    	
 
    	
289913UE1221
    	
 
    	
$
    	
49,323.21
    	
 
    	
1010 County Rd 59,   Rosharon, TX 77583
    	
 
    	
HOUSTON
    	
 
    
	
2009
    	
 
    	
John Deere
    	
 
    	
85D
    	
 
    	
Excavator
    	
 
    	
16155
    	
 
    	
$
    	
49,323.21
    	
 
    	
11511 FM 365, Beaumont,   TX 77705
    	
 
    	
HOUSTON
    	
 
    
	
2008
    	
 
    	
Caterpillar
    	
 
    	
D3GXL
    	
 
    	
Dozer
    	
 
    	
JMH2785
    	
 
    	
$
    	
44,390.89
    	
 
    	
1010 County Rd 59,   Rosharon, TX 77583
    	
 
    	
BMT
    	
 
    
	
2007
    	
 
    	
Caterpillar
    	
 
    	
420
    	
 
    	
Rubber Tire Backhoe
    	
 
    	
D0FDP26808
    	
 
    	
$
    	
24,661.62
    	
 
    	
1010 County Rd 59,   Rosharon, TX 77583
    	
 
    	
BMT
    	
 
    
	
2007
    	
 
    	
Caterpillar 304
    	
 
    	
304
    	
 
    	
Trackhoe (Hr)
    	
 
    	
CAT0304CLFPK01674
    	
 
    	
$
    	
24,661.62
    	
 
    	
11511 FM 365, Beaumont,   TX 77705
    	
 
    	
HOUSTON
    	
 
    
	
2003
    	
 
    	
Caterpillar
    	
 
    	
TH783
    	
 
    	
Fork Lift
    	
 
    	
3RN05043
    	
 
    	
$
    	
24,661.62
    	
 
    	
11511 FM 365, Beaumont,   TX 77705
    	
 
    	
KEN
    	
 
    
	
2006
    	
 
    	
Caterpillar
    	
 
    	
TB460
    	
 
    	
Telehandler
    	
 
    	
SLF01377
    	
 
    	
$
    	
24,661.62
    	
 
    	
1010 County Rd 59,   Rosharon, TX 77583
    	
 
    	
HOUSTON
    	
 
    
	
2010
    	
 
    	
Caterpillar
    	
 
    	
315
    	
 
    	
Trackhoe (Hr)
    	
 
    	
CAT0304CPFPK03576
    	
 
    	
$
    	
19,729.29
    	
 
    	
620 North Road,   Kennedale, TX 76060
    	
 
    	
HOUSTON
    	
 
    
	
2003
    	
 
    	
Case
    	
 
    	
580
    	
 
    	
Case 580M Rubber Tire   Backhoe
    	
 
    	
CJF0006649
    	
 
    	
$
    	
17,756.37
    	
 
    	
1010 County Rd 59,   Rosharon, TX 77583
    	
 
    	
HOUSTON
    	
 
    
	
2007
    	
 
    	
New Holland
    	
 
    	
TB110
    	
 
    	
Mowing Tractor
    	
 
    	
B72626M
    	
 
    	
$
    	
17,756.37
    	
 
    	
1010 County Rd 59,   Rosharon, TX 77583
    	
 
    	
HOUSTON
    	
 
    
	
2004
    	
 
    	
Caterpiller
    	
 
    	
TH460B
    	
 
    	
Telehandler
    	
 
    	
7BJ30446
    	
 
    	
$
    	
16,276.67
    	
 
    	
1010 County Rd 59,   Rosharon, TX 77583
    	
 
    	
BMT
    	
 
    
	
2004
    	
 
    	
RainforRent
    	
 
    	
HH125
    	
 
    	
Medium Head Fill Pump   900gpm 185psi
    	
 
    	
12829
    	
 
    	
$
    	
14,796.97
    	
 
    	
1010 County Rd 59,   Rosharon, TX 77583
    	
 
    	
BMT
    	
 
    
	
2004
    	
 
    	
RainforRent
    	
 
    	
HH125
    	
 
    	
Medium Head FIll Pump   900gpm 185psi
    	
 
    	
12830
    	
 
    	
$
    	
14,796.97
    	
 
    	
11511 FM 365, Beaumont,   TX 77705
    	
 
    	
BMT
    	
 
    
	
2006
    	
 
    	
Duetz
    	
 
    	
HH125
    	
 
    	
Medium Head Fill Pump
    	
 
    	
12831
    	
 
    	
$
    	
14,796.97
    	
 
    	
11511 FM 365, Beaumont,   TX 77705
    	
 
    	
BMT
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
$
    	
826,163.90
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
Grand   Total
    	
 
    	
$
    	
10,000,000.00Exhibit 10.1

 

Execution Copy

 

FIRST AMENDMENT

TO

AMENDED AND RESTATED CREDIT AND GUARANTY AGREEMENT

 

FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AND GUARANTY AGREEMENT, dated as of November 9, 2012 (this “Amendment”), among Douglas Dynamics, Inc., a Delaware corporation (“Holdings”), Douglas Dynamics, L.L.C., a Delaware limited liability company and a direct wholly-owned Subsidiary of Holdings (the “Company”), Fisher, LLC, a Delaware limited liability company (“Fisher”) and Douglas Dynamics Finance Company, a Delaware corporation (“DD Finance,” and together with Fisher and the Company, each a “Borrower” and collectively the “Borrowers”), the Lenders party hereto, and JPMorgan Chase Bank, N.A. as administrative agent (in such capacity, the “Administrative Agent”).

 

W  I  T  N  E  S  S  E  T  H:

 

WHEREAS, the Borrowers, Holdings, the lenders party thereto, the Administrative Agent and other parties thereto have entered into that certain Amended and Restated Credit and Guaranty Agreement, dated as of April 18, 2011 (as amended, supplemented or modified, the “Credit Agreement”; capitalized terms used herein but not otherwise defined herein shall have the meanings given such terms in the Credit Agreement); and

 

WHEREAS, the Borrowers have requested that the Lenders amend certain provisions of the Credit Agreement, and the Lenders are willing to so amend the Credit Agreement on the terms and subject to the conditions set forth herein.

 

NOW, THEREFORE, in consideration of the premises and the agreements herein contained, Borrowers and Lenders hereby agree as follows:

 

ARTICLE I
 AMENDMENTS TO CREDIT AGREEMENT

 

Section 1.1                                   Amendment to Section 1.1. Section 1.1 is hereby amended as follows:

 

(a)         The following definition is hereby added, which shall be inserted in the proper alphabetical order:

 

“First Amendment Effective Date” means November 9, 2012.

 

(b)         The definition of “Applicable Margin” is hereby amended and restated in its entirety as follows:

 

“Applicable Margin’’ means, for any day, (i) from the Closing Date up to and including the First Amendment Effective Date, with respect to any ABR Loan or Eurodollar Loan, a percentage, per annum, equal to (a) in the case of ABR Loans, 1.25% and (b) in the case of Eurodollar Loans, 2.25% and (ii) after the First Amendment Effective Date, with respect to any ABR Loan or Eurodollar Loan, a percentage, per annum, equal to (a) in the case of ABR Loans, 0.75% and (b) in the case of Eurodollar Loans, 1.75% .

 

 

(c)          The definition of “Commitment” is hereby amended and restated in its entirety as follows:

 

“Commitment” means, with respect to each Lender, the sum of such Lender’s Revolving Commitment, together with the commitment of such Lender to acquire participations in Protective Advances hereunder.  The initial amount of each Lender’s Commitment on the Closing Date is set forth on Part I of the Commitment Schedule. The initial amount of each Lender’s Commitment on the First Amendment Effective Date is set forth on Part II of the Commitment Schedule or in the Assignment and Assumption pursuant to which such Lender shall have assumed its Commitment, as applicable.

 

(d)         The definition of “Maturity Date” is hereby amended by deleting the words “April 18, 2016” and replacing it with the words “April 17, 2017”.

 

(e)          The definition of “Revolving Commitment” is hereby amended and restated in its entirety as follows:

 

“Revolving Commitment” means, with respect to each Lender, the commitment, if any, of such Lender to make Revolving Loans and to acquire participations in Letters of Credit, Overadvances and Swingline Loans hereunder, expressed as an amount representing the maximum possible aggregate amount of such Lender’s Revolving Exposure hereunder, as such commitment may be reduced or increased from time to time pursuant to (a) Section 2.9 and (b) assignments by or to such Lender pursuant to Section 10.6.  The initial amount of each Lender’s Revolving Commitment on the Closing Date is set forth on Part I of the Commitment Schedule. The initial amount of each Lender’s Revolving Commitment on the First Amendment Effective Date is set forth on Part II of the Commitment Schedule or in the Assignment and Assumption pursuant to which such Lender shall have assumed its Revolving Commitment, as applicable.  The initial aggregate amount of the Lenders’ Revolving Commitments on the Closing Date is $70,000,000. The initial aggregate amount of the Lenders’ Revolving Commitment on the First Amendment Effective Date is $80,000,000.

 

Section 1.2                                   Amendment to Section 2.9. Section 2.9(e) is hereby amended by replacing the term “$40,000,000” with “$30,000,000”.

 

Section 1.3                                   Amendment to Schedules. The Credit Agreement is hereby amended by replacing the Commitment Schedule in its entirety with the Commitment Schedule attached hereto as Annex 1.

 

2

 

ARTICLE II
 CONDITIONS TO CLOSING

 

Section 2.1                                   Immediately upon the satisfaction of all of the following conditions, the amendments contained in Article I of this Amendment shall become effective (the date on which the applicable conditions are satisfied being the “First Amendment Effective Date”):

 

(a)         Amendment.  The Borrowers, Holdings and the Lenders shall have delivered a duly executed counterpart of this Amendment to the Administrative Agent.

 

(b)         Representations and Warranties.  Each of the representations and warranties of the Borrowers and Holdings set forth herein shall be true and correct in all respects and each of the representations of the Borrowers and Holdings set forth in any other Credit Documents shall be true and correct in all material respects (it being understood that any representation and warranty that is qualified as to “materiality”, “Material Adverse Effect” or similar language shall be true and correct in all respects after giving effect to any such qualification therein) with the same effect as though made on and as of the First Amendment Effective Date (it being understood and agreed that any representation or warranty which by its terms is made as of a specified date shall be required to be true and correct in all material respects only as of such specified date).

 

(c)          Default.  No Default or Event of Default shall have occurred and be continuing and no Default or Event of Default shall result from entering into this Amendment.

 

(d)         Officer’s Certificate.  The Administrative Agent shall have received a certificate, dated the First Amendment Effective Date and signed by the chief financial officer of the Company, confirming compliance with the conditions precedent set forth in (b) and (c) of this Article II.

 

(e)          Organizational Documents; Incumbency.  The Administrative Agent shall have received (i) copies of each Organizational Document for each Borrower and Holdings, certified as of a recent date prior to the Closing Date by the appropriate governmental official or, as applicable, by an officer of such Credit Party or a certification by an officer of such Credit Party that the Organizational Documents delivered to the Administrative Agent and certified as true, correct and complete on the Closing Date continue to be true, correct and complete on the First Amendment Effective Date and have not been amended, supplemented or otherwise modified; (ii) signature and incumbency certificates of the officers of each Borrower and Holdings; (iii) resolutions of the Board of Directors or similar governing body of each Borrower and Holdings approving and authorizing the execution, delivery and performance of this Amendment, certified as of the Closing Date by its secretary or an assistant secretary as being in full force and effect without modification or amendment; and (iv) a good standing certificate from the applicable Governmental Authority of each Borrower’s and Holdings’ jurisdiction of incorporation, organization or formation and in each jurisdiction in which it is qualified as a foreign corporation or other entity to do business, each dated a recent date prior to the First Amendment Effective Date.

 

3

 

(f)           Opinion of Counsel to Credit Parties.  Lenders and their respective counsel shall have received originally executed copies of the favorable written opinion of Foley & Lardner LLP, counsel for the Borrowers and Holdings, in form and substance satisfactory to the Administrative Agent, dated as of the First Amendment Effective Date (and each Borrower and Holdings hereby instructs such counsel to deliver such opinion to Agents and Lenders).

 

(g)          Fees and Expenses.  The Borrowers shall have paid (i) the invoiced legal fees of Skadden, Arps, Slate, Meagher & Flom LLP, counsel to the Administrative Agent, then payable pursuant to the terms of any Credit Document, (ii) to the Administrative Agent for the account of each Lender, an amount equal to 0.10% of such Lender’s Commitment after giving effect to this Amendment and (iii) all other fees, costs and expenses then payable pursuant to any other Credit Document with respect to this Amendment or the transactions contemplated hereunder.

 

ARTICLE III
 MISCELLANEOUS

 

Section 3.1                                   Effect of Amendment.  Except as expressly set forth herein, this Amendment shall not by implication or otherwise limit, impair, constitute a waiver of, or otherwise affect the rights and remedies of the Administrative Agent or any Lender under the Credit Documents, and shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Documents, all of which are ratified and affirmed in all respects and shall continue in full force and effect except that, on and after the First Amendment Effective Date, each reference to the Credit Agreement in the Credit Documents shall mean and be a reference to the Credit Agreement as amended by this Amendment.  Nothing herein shall be deemed to entitle any Credit Party to a consent to, or a waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants or agreements contained in the Credit Documents in similar or different circumstances.  This Amendment is a Credit Document executed pursuant to the Credit Agreement and shall be construed, administered and applied in accordance with the terms and provisions thereof.

 

Section 3.2                                   No Novation.  Neither this Amendment nor the replacement of the terms of the Credit Agreement by the terms of this Amendment shall extinguish the obligations for the payment of money outstanding under the Credit Agreement or discharge or release the Lien or priority of any security agreement, any pledge agreement or any other security therefor.  Nothing herein contained shall be construed as a substitution or novation of the Obligations outstanding under the Credit Agreement or instruments securing the same, which shall remain in full force and effect, except as modified hereby.  Nothing expressed or implied in this Amendment or any other document contemplated hereby or thereby shall be construed as a release or other discharge of any Borrower or any other Credit Party under any Credit Document from

 

4

 

any of its obligations and liabilities thereunder.  Each of the Credit Agreement and the other Credit Documents shall remain in full force and effect, until and except as modified hereby or in connection herewith.  This Amendment is a Credit Document executed pursuant to the Credit Agreement and shall be construed, administered and applied in accordance with the terms and provisions thereof.

 

Section 3.3                                   No Representations by Lenders or Administrative Agent.  The Borrowers and Holdings hereby acknowledge that they have not relied on any representation, written or oral, express or implied, by any Lender or the Administrative Agent, other than those expressly contained herein, in entering into this Amendment.

 

Section 3.4                                   Representations of Holdings and the Borrowers.  Holdings and each Borrower represents and warrants to the Administrative Agents and the Lenders that (a) the execution, delivery and performance by it of this Amendment are within such entity’s powers and have been duly authorized by all necessary corporate or limited liability company action, (b) the execution, delivery and performance by Credit Parties of this Amendment and the consummation of the transactions contemplated by this Amendment do not and will not require any registration with, consent or approval of, or notice to, or other action to, with or by, any Governmental Authority except to the extent obtained on or before the First Amendment Effective Date, (c)  the execution, delivery and performance by Credit Parties of this Amendment and the consummation of the transactions contemplated by hereby do not and will not (i) violate any provision of any law or any governmental rule or regulation applicable to Holdings or any of its Subsidiaries, any of the Organizational Documents of Holdings or any of its Subsidiaries, (ii) violate any order, judgment or decree of any court or other agency of government binding on Holdings or any of its Subsidiaries except to the extent such violation could not be reasonably expected to have a Material Adverse Effect, (iii) conflict with, result in a breach of or constitute (with due notice or lapse of time or both) a default under any Contractual Obligation of Holdings or any of its Subsidiaries except to the extent such violation could not reasonably be expected to have a Material Adverse Effect, (iv) result in or require the creation or imposition of any Lien upon any of the properties or assets of Holdings or any of its Subsidiaries (other than any Liens created under any of the Credit Documents in favor of Collateral Agent, on behalf of Secured Parties), or (v) require any approval of stockholders, members or partners or any approval or consent of any Person under any Contractual Obligation of Holdings or any of its Subsidiaries, except for such approvals or consents which will be obtained on or before the Closing Date and disclosed in writing to Lenders, and (d) this Amendment and the Credit Agreement, as amended by this Amendment, are legal, valid and binding obligations of such entity, enforceable against it in accordance with its respective terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law.

 

Section 3.5                                   Reaffirmation. Each Borrower and Holdings, each as debtors, grantors, pledgors, guarantors, assignors, or in other similar capacities in which such parties grant liens or security interests in their properties or are guarantors, as the case may be, under the Credit Documents, hereby ratifies and reaffirms all of its payment

 

5

 

and performance obligations and obligations to indemnify, contingent or otherwise, under each of such documents to which such party is a party, and each such party hereby ratifies and reaffirms its grant of liens on or security interests in its properties pursuant to such documents to which it is a party as security for the Obligations, and confirms and agrees that such liens and security interests hereafter secure all of the Obligations, including, without limitation, all Obligations hereafter arising or incurred pursuant to or in connection with this Amendment, the Credit Agreement or any other Credit Document.  Each Borrower and Holdings do not, and hereby covenant that they will not, contest that the Collateral Agent has and will continue to possess valid and perfected security interests in, and liens upon, all of the property as set forth in the Credit Documents.

 

Section 3.6                                   Ratification of Guaranty.  Each Guarantor hereby consents to this Amendment and hereby confirms and agrees that (a) notwithstanding the effectiveness of this Amendment, the Guaranty is, and shall continue to be, in full force and effect and is hereby ratified and confirmed in all respects, and (b) the Credit Documents to which it is a party and all of the Collateral described therein do, and shall continue to, secure the payment of all of the Obligations secured thereby.

 

Section 3.7                                   Successors and Assigns.  This Amendment shall be binding upon the parties hereto and their respective successors and assigns and shall inure to the benefit of the parties hereto and the successors and assigns of the Lenders and the Administrative Agent.

 

Section 3.8                                   Headings.  The headings and captions hereunder are for convenience only and shall not affect the interpretation or construction of this Amendment.

 

Section 3.9                                   Severability.   In case any provision in or obligation hereunder shall be invalid, illegal or unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired thereby.

 

Section 3.10                            Counterparts.  This Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall be deemed an original, but all such counterparts together shall constitute but one and the same instrument.  Delivery of an executed counterpart of a signature page of this Agreement by facsimile or electronic file shall be effective as delivery of a manually executed counterpart of this Agreement.

 

Section 3.11                            APPLICABLE LAW. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES THEREOF THAT WOULD RESULT IN THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION.

 

6

 

Section 3.12                            Costs and Expenses.  Borrowers shall pay all reasonable out-of-pocket expenses of Administrative Agent and the Lenders associated with this Amendment, including the reasonable out-of-pocket fees and expenses of Administrative Agent’s counsel.

 

[Remainder of this page is intentionally left blank.]

 

7

 

IN WITNESS WHEREOF, the undersigned have caused this Amendment to be duly executed and delivered as of the date first above written.

 

 

	
 
    	
DOUGLAS DYNAMICS, INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Robert L. McCormick
    
	
 
    	
 
    	
Name:
    	
Robert   L. McCormick
    
	
 
    	
 
    	
Title:
    	
Vice   President, Chief Financial
    
	
 
    	
 
    	
 
    	
Officer   and Secretary
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
DOUGLAS DYNAMICS, L.L.C.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Robert L. McCormick
    
	
 
    	
 
    	
Name:
    	
Robert   L. McCormick
    
	
 
    	
 
    	
Title:
    	
Vice   President, Chief Financial
    
	
 
    	
 
    	
 
    	
Officer   and Secretary
    
	
 
    	
 
    	
 
    
	
 
    	
DOUGLAS DYNAMICS FINANCE COMPANY
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Robert L. McCormick
    
	
 
    	
 
    	
Name:
    	
Robert   L. McCormick
    
	
 
    	
 
    	
Title:
    	
Vice   President, Chief Financial
    
	
 
    	
 
    	
 
    	
Officer   and Secretary
    
	
 
    	
 
    	
 
    
	
 
    	
FISHER,   LLC
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Robert L. McCormick
    
	
 
    	
 
    	
Name:
    	
Robert   L. McCormick
    
	
 
    	
 
    	
Title:
    	
Vice   President, Chief Financial
    
	
 
    	
 
    	
 
    	
Officer   and Secretary
    

 

[Signature Page to First Amendment

to Amended and Restated Credit and Guaranty Agreement]

 

 

	
 
    	
JPMORGAN CHASE BANK, N.A.,
    
	
 
    	
individually,   as Administrative Agent, as Issuing Bank, as Swingline Lender and as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Michael A. Hintz
    
	
 
    	
 
    	
Name:
    	
Michael   A. Hintz
    
	
 
    	
 
    	
Title:
    	
Authorized   Officer
    

 

[Signature Page to First Amendment

to Amended and Restated Credit and Guaranty Agreement]

 

 

	
 
    	
WELLS   FARGO CAPITAL FINANCE, LLC
    
	
 
    	
as   a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Thomas Forbath
    
	
 
    	
 
    	
Name:
    	
Thomas   Forbath
    
	
 
    	
 
    	
Title:
    	
Vice   President
    

 

[Signature Page to First Amendment

to Amended and Restated Credit and Guaranty Agreement]

 

 

Annex 1 — Commitment Schedule

 

Commitment Schedule

 

Part I

 

	
Lender
    	
 
    	
Revolving Commitment
    	
 
    	
Pro Rata Share
    	
 
    
	
JPMorgan Chase   Bank, N.A.
    	
 
    	
$
    	
40,000,000
    	
 
    	
57.14285714
    	
%
    
	
Wells Fargo Capital   Finance, LLC
    	
 
    	
$
    	
30,000,000
    	
 
    	
42.85714286
    	
%
    
	
Total
    	
 
    	
$
    	
70,000,000
    	
 
    	
100.000000000
    	
%
    

 

Part II

 

	
Lender
    	
 
    	
Revolving Commitment
    	
 
    	
Pro Rata Share
    	
 
    
	
JPMorgan Chase   Bank, N.A.
    	
 
    	
$
    	
46,000,000
    	
 
    	
57.500000000
    	
%
    
	
Wells Fargo Capital   Finance, LLC
    	
 
    	
$
    	
34,000,000
    	
 
    	
42.500000000
    	
%
    
	
Total
    	
 
    	
$
    	
80,000,000
    	
 
    	
100.000000000
    	
%

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