Document:

EXHIBIT 10.19

           FIRST AMENDMENT TO AMENDED AND RESTATED PROMISSORY NOTE
                                    AND
                         LOAN MODIFICATION AGREEMENT

     THIS FIRST AMENDMENT TO AMENDED AND RESTATED PROMISSORY NOTE AND
LOAN MODIFICATION AGREEMENT (this "Amendment"), is dated effective as of
March 28, 2001, and is made by JAMES E. ACRIDGE ("Acridge"), and GIANT
INDUSTRIES, INC., a Delaware corporation ("Giant").

                                  RECITALS:

     A.    Under an Agreement dated as of September 17, 1998, by and
between Acridge and Giant, as modified by the Modification Agreement, dated
as of December 23, 1998, by and between Acridge and Giant, as modified by the
Amended and Restated Loan Agreement, dated as of March 20, 2000, by and
between Acridge and Giant, as modified by the Loan Modification Agreement,
dated as of February 28, 2001, by and between Acridge and Giant,
(collectively, the "Loan Agreement"), Giant has made a loan to Acridge in the
original principal amount of $5,000,000.00 (the "Loan").

     B.    In connection with the Loan, Acridge executed a Promissory
Note, dated as of September 17, 1998, in the stated principal amount of
$4,000,000.00, in favor of Giant, as modified by the Amended and Restated
Promissory Note, dated as of December 23, 1998, in the total principal
amount of $5,000,000.00, executed by Acridge in favor of Giant, as further
modified by the Amended and Restated Promissory Note, dated as of March 10,
2000, in the total principal amount of $5,000,000.00, executed by Acridge in
favor of Giant, as further modified by the Amended and Restated Promissory
Note, dated as of February 28, 2001, in the total principal amount of
$5,000,000.00, executed by Acridge in favor of Giant (collectively, the
"Note").

     C.    Acridge is the sole owner of 100% of the membership
interests of Pinnacle Rodeo, L.L.C., an Arizona limited liability company
("Rodeo"), which is the sole member of Pinnacle Rawhide, L.L.C., an Arizona
limited liability company ("Rawhide").

     D.    The Loan is secured by the collateral described in the
Pledge and Security Agreement, dated effective as of March 10, 2000, by and
among Acridge, Rodeo and Giant, as modified by the First Amendment to Pledge
and Security Agreement, dated as of March 9, 2001, by and among Acridge,
Rodeo and Giant, and a separate Pledge and Security Agreement, dated
effective the date hereof, by Acridge in favor of Giant (the "New Pledge
Agreement") whereby, among other things, for additional consideration,
Acridge pledged to Giant all of his membership interests in Rodeo
(collectively, the "Pledge Agreements").

     E.    Acridge and Giant desire to further amend the Loan
Agreement and the Note to memorialize certain agreements made between them in
connection with the Loan and with the entering into of the New Pledge
Agreement of even date herewith.

                                 AGREEMENT:

     NOW, THEREFORE, in consideration of the premises and for other
good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereby agree as follows:

1.  AMENDMENT OF NOTE.  The Note is amended to include the following as
    events of default:

                (i)  Either Rodeo or Rawhide fails to comply with or
                perform when due, any term, obligation, covenant or
                condition contained in any agreement with any third
                parties, including any promissory notes due by Rodeo
                or Rawhide to Western Town, L.L.C., an Arizona
                limited liability company, Hirsch Investment Co.,
                LLC, an Arizona limited liability company, or any
                other creditor of Rodeo or Rawhide.

                (ii)  Acridge fails to comply with or perform when
                due any term, obligation, covenant or condition
                contained in the New Pledge Agreement.

                (iii)  The sale or transfer to a third party of any
                portion of the real property owned by Rawhide, which
                real property is described as:

                   The Northwest Quarter of Section 14, Township
                   4 North, Range 4 East of the Gila and Salt
                   River Base and Meridian, Maricopa County, Arizona;

                   EXCEPT therefrom the North 55 feet; and,

                   EXCEPT the East 40 feet; and,

                   EXCEPT the West 55 feet; and

                   EXCEPT the South 40 feet.

2.  CONDITIONS PRECEDENT TO EXTENSION.  The parties anticipate entering into
further amendments to the Note, Loan Agreement and Pledge Agreements on or
before March 28, 2001 to extend the maturity date of the Loan from March 28,
2001 to March 28, 2003 (the "Extension").  The parties have agreed to a
number of conditions precedent to effecting the Extension.  These conditions
include the following:

     2.1     Acridge shall have paid, or otherwise satisfied in full, all
accrued but unpaid interest under the Loan from January 1, 1999 through March
28, 2001;

     2.2     Acridge and Giant shall have executed the New Pledge Agreement;

     2.3     Giant and Acridge shall have consummated the real property
transaction whereby a trust controlled by Acridge shall have sold to Giant a
parcel of land containing approximately 40 acres, located at 9540 East Jomax
Road in Scottsdale, Arizona; and

     2.4     Giant shall have released to the public Giant's earnings for the
2000 fiscal year.

3.  ACKNOWLEDGEMENT OF CONSIDERATION.  Acridge acknowledges that he has
benefited from the extension of the maturity date of the Loan from February
28, 2001 to March 28, 2001, and will further benefit from the further
Extension of the maturity date of the Loan.  Accordingly, Acridge
acknowledges that he has received valuable consideration in the form of the
aforesaid.  Acridge acknowledges the receipt and sufficiency of adequate
consideration for the entering into of this Amendment and agrees that all of
the terms and conditions of this Amendment are fully binding upon him as set
forth herein.

4.  PRESERVATION CLAUSE.  Except as herein provided, all terms and conditions
of the Note, the Loan Agreement and the Pledge Agreements shall remain in
full force and effect, and the parties hereby ratify and confirm the
enforceability of the Note, the Loan Agreement and the Pledge Agreements.
Nothing contained in this Amendment shall be deemed a waiver of or limit any
of the rights or remedies that Giant may have against Acridge or of any of
Giant's rights and remedies arising out of the Note, the Loan Agreement and
the Pledge Agreements, and Giant specifically reserves, and shall have, all
rights and remedies available to Giant under the law or as provided in such
documents, as modified by this Amendment.

5.  COUNSEL; INTERPRETATION.  Each party acknowledges that it was represented
by legal counsel (or had the opportunity to be represented by independent
legal counsel) in connection with this Agreement and that each of them and
their counsel have reviewed and revised this Agreement, or have had an
opportunity to do so, and that any rule of construction to the effect that
ambiguities are to be resolved against the drafting party shall not be
employed in the interpretation of this Agreement or any amendments or any
exhibits hereto or thereto.  Acridge further acknowledges that he has been
advised, and has had the opportunity, to seek the advice of independent
counsel.

            [The parties' signatures appear on the following page.]

<PAGE>

          IN WITNESS WHEREOF, each party has caused this Agreement to be duly
executed and delivered as of the date first above written.

ACRIDGE:

/s/ JAMES E. ACRIDGE
-----------------------------
James E. Acridge

Address:
23733 N. Scottsdale Road
Scottsdale, Arizona 85255
Facsimile:___________________
Attn: _______________________

GIANT:

GIANT INDUSTRIES, INC., a Delaware
corporation

By: /s/ MARK B. COX
Name: MARK B. COX
------------------------------
Title: VP TREASURER
------------------------------

Address:
23733 N. Scottsdale Road
Scottsdale, Arizona 85255
Facsimile:
_____________________________
Attn:
_____________________________EXHIBIT 10.24
                           FIRST AMENDMENT
                                  TO
                     PLEDGE AND SECURITY AGREEMENT

     THIS FIRST AMENDMENT TO PLEDGE AND SECURITY AGREEMENT (this
"Amendment") is made and entered into as of the 9th day of March, 2001,
by and among JAMES E. ACRIDGE ("Acridge") and PINNACLE RODEO, L.L.C.,
an Arizona limited liability company ("Rodeo"), as pledgor
(collectively, "Pledgor"), and GIANT INDUSTRIES, INC., a Delaware
corporation, as pledgee ("Giant").

                               RECITALS

     A.    Under the Agreement, dated as of September 17, 1998, by and
between Acridge and Giant, as modified by the Modification Agreement,
dated as of December 23, 1998, by and between Acridge and Giant, as
modified by the Amended and Restated Loan Agreement, dated as of March
20, 2000, by and between Acridge and Giant, as modified, Giant agreed
to make a loan to Acridge in the principal amount of $5,000,000.00 (the
"Loan").

     B.    The Loan is secured by the collateral described in the
Pledge and Security Agreement (the "Pledge Agreement"), dated as of
March 10, 2000, by and between Pledgor and Giant.

     C.    The following financing statements were executed in
connection with the Loan (collectively, the "Financing Statements"):

          (i)     Financing Statement on Form UCC-1, dated March 10,
2000, executed by Acridge, as debtor, in favor of Giant, as secured
party, filed on March 23, 2000, with the Office of the Secretary of
State of the State of Arizona, at File No. 01109454.

          (ii)     Financing Statement on Form UCC-1, dated March 10,
2000, executed by Rodeo, as debtor, in favor of Giant, as secured
party, filed on March 23, 2000, with the Office of the Secretary of
State of the State of Arizona, at File No. 01109455.

     D.    Giant and Acridge, as Trustee for and on behalf of the
Acridge Family Trust (the "Acridge Trust"), entered into a Purchase
Agreement, dated January 26, 2001, as amended (the "Purchase
Agreement"), with respect to the sale by the Acridge Trust to Giant of
a parcel of land containing approximately 40 acres located at 9540 East
Jomax Road in the City of Scottsdale, Arizona (the "Property").

     E.    Concurrently with the execution of this Amendment, the
Acridge Trust and Giant are entering into a Third Amendment to Purchase
Agreement (the "Purchase Agreement Modification"), wherein, among other
things, Giant will increase the Deposit (as defined in the Purchase
Agreement) by an additional $450,000 (the "Additional Obligation").

     F.    Pledgor and Giant now wish to amend the Pledge Agreement
as hereinafter provided.

     NOW THEREFORE, in consideration of the mutual covenants and
agreements set forth herein and for other good and valuable
consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:

                             AGREEMENT

     1.   Accuracy of Recitals.  Acridge and Rodeo hereby acknowledge
that the Recitals set forth above are true, accurate and correct, and
are incorporated herein by this reference.

     2.   Security Documents.  This Amendment, the Financing
Statements, all documents executed in connection with this Amendment,
and the Pledge Agreement are hereinafter collectively referred to as
the "Security Documents".

     3.   Additional Obligations.  The parties hereby agree that the
Obligations, as defined in the Pledge Agreement, shall include the
Additional Obligation, which shall be secured by the Pledge Agreement.
Furthermore, Giant shall have all of the remedies available to it under
the Pledge Agreement, including without limitation Section 6 of the
Pledge Agreement, in the event (i) the transactions contemplated under
the Purchase Agreement are not consummated and the Additional
Obligation is not repaid to Giant, or (ii) the transactions
contemplated under the Purchase Agreement are consummated and (a) the
Deposit (as defined in the Purchase Agreement), along with the
indebtedness secured by the first deed of trust covering the Property,
exceeds the Sales Price (as defined in the Purchase Agreement) (the
"Surplus Payment"), and (b) the Surplus Payment is not immediately
repaid to Giant.  For purposes of this Section, in the event there is a
Surplus Payment, the Additional Obligation shall be deemed to be a part
of the Surplus Payment.

     4.   Acknowledgments of Pledgor.  Each Pledgor hereby
acknowledges and agrees that:

          a.     No Defenses. Pledgor reaffirms all of its
obligations under the Security Documents, and Pledgor has no claim,
defense, offset or counterclaim with respect to the performance of
Pledgor's obligations under the Security Documents.

          b.     No Breach By Giant.  Giant has not breached any duty
to Pledgor in connection with the Security Documents, and Giant has
fully performed all obligations it may have had or now has to Pledgor.

          c.     No Waiver.  Except as specifically provided herein,
by entering into this Amendment, Giant does not waive any existing
event of default or default or any event of default or default
hereafter occurring, or become obligated to waive any condition or
obligation in any agreement between or among any of the parties hereto.

          d.     No Future Obligations.  Giant has no obligation to
further modify the Security Documents.

          e.     No Third Parties Benefited.  This Amendment is made
and entered into for the sole protection and benefit of Giant and
Pledgor and their permitted successors and assigns.  No other persons
or entities shall have any right of action under this Amendment.

          f.     Informed Consent to Agreement.  Pledgor acknowledges
that it has thoroughly read and reviewed the terms and provisions of
this Amendment and is familiar with the same, that the terms and
provisions contained herein are clearly understood by it and have been
fully and unconditionally consented to by it, and that Pledgor's
execution of this Amendment is done freely, voluntarily, with full
knowledge and without duress, and that in executing this Amendment,
Pledgor is relying on no other representations either written or oral,
express or implied, made to Pledgor by any other party hereto, and that
the consideration received by Pledgor hereunder has been actual and
adequate.  Pledgor further acknowledges that it has been advised, and
has been given the reasonable opportunity, to seek independent legal
advice with respect to the subject matter of this Amendment, and
Pledgor hereby represents to Giant that it has either sought and
obtained such independent legal advice or that it hereby waives such
advice.

     5.   Reaffirmation of Obligations.  The Additional Obligations
are secured by the collateral described in the Pledge Agreement.
Pledgor believes that it is in its best interest for Pledgor to enter
into this Agreement with Giant.  Pledgor hereby reaffirms the full
force and effectiveness of the Pledge Agreement.  Pledgor agrees that
the Pledge Agreement continues to secure all of the Obligations,
including the Additional Obligations.  Pledgor represents that this
Amendment and the other Security Documents are of substantial economic
benefit to Pledgor and that its reaffirmation and consent is an
essential part of the consideration to Giant to enter into this
Amendment and the Purchase Agreement Modification.  Pledgor hereby
consents to the terms, conditions and provisions of this Amendment and
the other Security Documents.

     6.   Incorporation.  This Amendment shall form a part of each
Security Document, and all references to a given Security Document
shall mean that document as hereby modified.

     7.   No Prejudice; Reservation of Rights.  This Amendment shall
not prejudice any rights or remedies of Giant under the Security
Documents.  Giant reserves, without limitation, all rights that it has
against any indemnitor, guarantor, or endorser of any of the Security
Documents.

     8.   No Impairment; Security.  Except as specifically hereby
amended, the Security Documents shall each remain unaffected by this
Amendment and all such documents shall remain in full force and effect.
Nothing contained in this Amendment shall annul, release or affect the
lien, or priority of the lien of any of the Security Documents.
Nothing contained herein shall be deemed a waiver of or limit any of
the rights and remedies that Giant may have against Pledgor or of any
of Giant's rights and remedies arising out of the Security Documents,
and Giant specifically reserves, and shall have, all rights and
remedies available to Giant under the law or as provided in the
Security Documents, as modified by this Amendment.

     9.   Integration.  The Security Documents, including this
Amendment:  (a) integrate all the terms and conditions mentioned in or
incidental to the Security Documents; (b) supersede all oral
negotiations and prior and other writings with respect to their subject
matter; and (c) are intended by the parties as the final expression of
the agreement with respect to the terms and conditions set forth in
those documents and as the complete and exclusive statement of the
terms agreed to by the parties.  If there is any conflict between the
terms, conditions and provisions of this Amendment and those of any
other agreement or instrument, including any of the other Security
Documents, the terms, conditions and provisions of this Amendment shall
prevail.  No amendment, modification, change, waiver, release or
discharge hereof and hereunder shall be effective unless evidenced by
an instrument in writing and signed by the party against whom
enforcement is sought.

     10.   Severability.  If any provision of this Amendment or the
other Security Documents is invalid or unenforceable, the other
provisions of this Amendment or the other Security Documents shall
remain in full force and effect and shall be liberally construed in
favor of Giant in order to effectuate the other provisions of this
Amendment or the other Security Documents.

     11.   Governing Law.  This Amendment and the other Security
Documents shall be construed in accordance with and governed by the
laws of the State of Arizona, without regard to the choice of law rules
of the State of Arizona.

     12.   Time is of the Essence.  Time is of the essence of this
Amendment and the other Security Documents.

     13.   Further Performance.  Pledgor whenever and as often as it
shall be requested by Giant, shall execute, acknowledge and deliver, or
cause to be executed, acknowledged and delivered such further
instruments and documents and to do any and all things as may be
requested in order to carry out the intent and purpose of this
Amendment and the other Security Documents.

     14.   Survival.  All indemnities, warranties, representations,
and covenants made by Pledgor in this Amendment or the other Security
Documents, shall be considered to have been relied upon by Giant and
will survive the making and repayment of the Loan and delivery to Giant
of this Amendment.

     15.   No   Consent.  Except as specifically provided in this
Amendment, no express or implied consent to any further modifications
involving any of the matters set forth in this Amendment or otherwise
shall be inferred or implied by Giant's execution of this Amendment or
any other action of Giant.  Giant's execution of this Amendment shall
not constitute a waiver, either express or implied, of the requirement
that any further modification of the Security Documents shall require
the express written approval of Giant.

     IN WITNESS WHEREOF, the parties hereto have executed this
Amendment as of the date first above written.

PLEDGOR:

Pinnacle Rodeo, L.L.C., an Arizona
limited liability company

By:  /s/ JAMES E. ACRIDGE
   --------------------------------
Name:  JAMES E. ACRIDGE
     ------------------------------
Its:   MEMBER
    -------------------------------

GIANT:

Giant Industries, Inc., a Delaware
corporation

By:  /s/ MARK B. COX
   --------------------------------
Name:  MARK B. COX
     ------------------------------
Its:   VP TREASURER
    -------------------------------

/s/ JAMES E. ACRIDGE
-----------------------------------
JAMES E. ACRIDGE

This Amendment is consented to by:

Pinnacle Rawhide, L.L.C., an Arizona
limited liability company

By: /s/ JAMES E. ACRIDGE
   --------------------------------
Name: James E. Acridge, sole member of
      Pinnacle Rodeo, L.L.C., its manager

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00022-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00022-of-00352.parquet"}]]