Document:

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                                                                Exhibit 10.20(j)

                 PLEDGE AND IRREVOCABLE PROXY SECURITY AGREEMENT

         THIS PLEDGE AND IRREVOCABLE PROXY SECURITY AGREEMENT is made and
entered into as of the 27th day of September, 2001, by SCHUFF INTERNATIONAL,
INC., a Delaware corporation (hereinafter called "Pledgor"), whose chief
executive office (or residence if Pledgor is an individual without an office) is
located at 420 South 19th Avenue, Phoenix, Arizona 85009, in favor of WELLS
FARGO BANK, NATIONAL ASSOCIATION, and its successors and assigns, for itself and
as agent for one or more Lenders (as hereinafter defined) (hereinafter called
"Secured Party"), whose address is 100 West Washington, Phoenix, Arizona 85003,
Attention: John Helms #S4101-251.

1.       RECITALS

         1.1 Secured Party has agreed to make certain financial accommodations
to Pledgor.

         1.2 Secured Party's agreement to make financial accommodations to
Pledgor is conditioned upon Secured Party's receiving a pledge and security
interest in all stock and securities issued by the corporations listed on
Schedule A attached hereto (hereinafter when referred to in this
capacity called the "Company"), now owned or hereafter acquired by Pledgor.

         1.3 Pledgor is the owner of shares of the stock of each Company as
shown on Schedule A that Pledgor desires to pledge to Secured Party in
connection with Secured Party's financial accommodations to Pledgor.

2.       PLEDGE OF STOCK

         2.1 Pledgor hereby assigns, transfers, pledges and delivers to Secured
Party and grants Secured Party a security interest in all issued and outstanding
stock in the Company now owned or hereafter acquired by Pledgor, including
without limitation the stock described on Schedule "A" attached hereto and by
this reference made a part hereof, together with all earnings thereon, all
additions thereto, all proceeds thereof from sale or otherwise, all
substitutions therefor, and all securities issued with respect thereto as a
result of any stock dividend, stock split, warrants or other rights,
reclassification, readjustment or other change in the capital structure of the
Company, and the securities of any corporation or other properties received upon
the conversion or exchange thereof pursuant to any merger, consolidation,
reorganization, sale of assets or other agreement or received upon any
liquidation of the Company or such other corporation (all hereinafter called the
"Pledged Securities").

         2.2 Upon the execution of this Agreement, Pledgor shall deliver to
Secured Party certificates for the Pledged Securities, together with appropriate
stock transfer powers therefor duly executed by Pledgor in blank in the form of
Exhibit "1" attached hereto. Immediately upon receipt, Pledgor shall deliver to
Secured Party all certificates and other evidences of the Pledged Securities
that come into the possession, custody or control of Pledgor, together with
appropriate stock transfer powers therefor duly executed by Pledgor in blank,
and any other property constituting part of the Pledged Securities, free and
clear of any prior lien, claim, charge or encumbrance.
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         2.3 Secured Party may receive, hold and/or dispose of the Pledged
Securities subject and pursuant to all the terms, conditions and provisions
hereof and of the Loan Agreement (defined below) until the Obligation (defined
below) has been discharged in full. Secured Party is hereby authorized and
empowered to take any and all action with respect to such property as authorized
hereunder. In its discretion and without notice to Pledgor, Secured Party may
take any one or more of the following actions, without liability except to
account for property actually received by it:

                  (a) transfer to or register in its name or the name of its
         nominee any of the Pledged Securities, with or without indication of
         the security interest herein created, and whether or not so transferred
         or registered, receive the income, dividends and other distributions
         thereon and hold them or apply them to the Obligation in any order of
         priority;

                  (b) exercise or cause to be exercised all voting and corporate
         powers with respect to any of the Pledged Securities so registered or
         transferred, including all rights of conversion, exchange, subscription
         or any other rights, privileges or options pertaining to such Pledged
         Securities, as if the absolute owner thereof;

                  (c)      insure any of the Pledged Securities;

                  (d) exchange any of the Pledged Securities for other property
         upon a reorganization, recapitalization or other readjustment and, in
         connection therewith, deposit any of the Pledged Securities with any
         committee or depositary upon such terms as the Secured Party may
         determine;

                  (e) in its name, or in the name of Pledgor, demand, sue for,
         collect or receive any money or property at any time payable or
         receivable on account of, or in exchange for, any of the Pledged
         Securities and, in connection therewith, endorse notes, checks, drafts,
         money orders, documents of title or other evidences of payment,
         shipment or storage in the name of Pledgor; and

                  (f) make any compromise or settlement deemed advisable with
         respect to any of the Pledged Securities.

Secured Party shall be under no duty to exercise, or to withhold the exercise
of, any of the rights, powers, privileges and options expressly or implicitly
granted to Secured Party in this Agreement, and shall not be responsible for any
failure to do so or delay in so doing.

3.       OBLIGATION SECURED

         This Agreement shall secure, in such order of priority as Secured Party
may elect:

                  (a) Payment of the aggregate sum of $15,000,000.00 according
         to the terms of those Revolving Promissory Notes dated June 30, 1998,
         each made by Schuff Steel Company, a Delaware corporation (the "Prior
         Borrower") to which

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         Pledgor is the successor in interest, payable respectively to the order
         of one of the Lenders, each evidencing a revolving line of credit, all
         or any part of which may be advanced to Pledgor, repaid by Pledgor and
         readvanced to Pledgor, from time to time, subject to the terms and
         conditions thereof, with interest thereon, extension and other fees,
         late charges, prepayment premiums and attorneys' fees, according to the
         terms thereof, and all extensions, modifications, renewals or
         replacements thereof (hereinafter called the "RLC Notes");

                  (b) Payment of the sum of $5,000,000.00, according to the
         terms of that Revolving Promissory Note dated June 30, 1998, made by
         the Prior Borrower, payable to the order of Secured Party as the Swing
         Line Lender, evidencing a revolving line of credit, all or any part of
         which may be advanced to Pledgor, repaid by Pledgor and readvanced to
         Pledgor, from time to time, subject to the terms and conditions
         thereof, with interest thereon, extension and other fees, late charges,
         prepayment premiums and attorneys' fees, according to the terms
         thereof, and all extensions, modifications, renewals or replacements
         thereof (hereinafter called the "Swing Line Note" and with the RLC
         Notes, the "Note");

                  (c) Payment, performance and observance by Pledgor of each
         covenant, condition, provision and agreement contained in that Credit
         Agreement dated June 30, 1998, by and between the Prior Borrower, and
         the lenders listed from time to time therein (collectively, the
         "Lenders"), and Secured Party, as Arranger, Administrative Agent,
         Issuing Bank and Swing Line Lender (hereinafter called the "Credit
         Agreement") and of all monies expended or advanced by Secured Party
         pursuant to the terms thereof or to preserve any right of Secured Party
         thereunder;

                  (d) Payment, performance and observance by Pledgor of each
         covenant, condition, provision and agreement contained herein and of
         all monies expended or advanced by Secured Party pursuant to the terms
         hereof, or to preserve any right of Secured Party hereunder, or to
         protect or preserve the Collateral or any part thereof; and

                  (e) Payment and performance of any and all other indebtedness,
         obligations and liabilities of Pledgor to Secured Party of every kind
         and character, direct or indirect, absolute or contingent, due or to
         become due, now existing or hereafter incurred, whether such
         indebtedness is from time to time reduced and thereafter increased or
         entirely extinguished and thereafter reincurred.

         All of the indebtedness and obligations secured by this Agreement are
hereinafter collectively called the "Obligation."

4.       REPRESENTATIONS AND WARRANTIES OF PLEDGOR

         Pledgor hereby represents and warrants that:

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         4.1 If Pledgor is a corporation, partnership or trust, it (i) is duly
organized, validly existing and in good standing under the laws of the state in
which it is organized; (ii) is qualified to do business and is in good standing
under the laws of each state in which it is doing business; (iii) has full power
and authority to own its properties and assets and to carry on its business as
now conducted; and (iv) is fully authorized and permitted to execute and deliver
this Agreement. The execution, delivery and performance by Pledgor of this
Agreement and all other documents and instruments relating to the Obligation
will not result in any breach of the terms and conditions of, nor constitute a
default under, any agreement or instrument under which Pledgor is a party or is
obligated. Pledgor is not in default in the performance or observance of any
covenants, conditions or provisions of any such agreement or instrument.

         4.2 The address of Pledgor set forth at the beginning of this Agreement
is the chief executive office of Pledgor (or Pledgor's residence if Pledgor is
an individual without an office).

         4.3 The Pledged Securities are and shall be duly and validly issued and
pledged in accordance with applicable law, and this Agreement shall not
contravene any law, agreement or commitment binding Pledgor or the Company, and
Pledgor shall defend the right, title, lien and security interest of Secured
Party in and to the Pledged Securities against the claims and demands of all
persons and other entities whatsoever.

         4.4 Pledgor has the right, power and authority to convey good and
marketable title to the Pledged Securities; and the Pledged Securities and the
proceeds thereof are and shall be free and clear of all claims, mortgages,
pledges, liens, encumbrances and security interest of every nature whatsoever
other than as imposed hereby or as set forth, if at all, on Schedule "A"
attached hereto.

5.       IRREVOCABLE PROXY

         5.1 Pledgor irrevocably constitutes and appoints Secured Party, whether
or not the Pledged Securities have been transferred into the name of Secured
Party or its nominee, as Pledgor's proxy with full power, in the same manner, to
the same extent and with the same effect as if Pledgor were to do the same, in
the sole discretion of Secured Party:

                  (a) To call a meeting of the stockholders of the Company and
         to vote the Pledged Securities, to seek the consent of such
         stockholders, to remove the directors of the Company, or any of them,
         and to elect new directors of the Company, who thereafter shall manage
         the affairs of the Company, operate its properties and carry on its
         business, and otherwise take any action with respect to the business,
         properties and affairs of the Company that such new directors shall
         deem necessary or appropriate, including, but not limited to, the
         maintenance, repair, renewal or alteration of any or all of the
         properties of the Company, the leasing, subleasing, sale or other
         disposition of any or all of such properties, the borrowing of money on
         the credit of the Company (whether from Secured Party or others) that
         in the judgment of such new directors shall be necessary to preserve
         any of such properties or to discharge the obligations of the Company,
         and the employment of any or all agents, attorneys, counsel, or other
         employees

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         as deemed by such new directors to be necessary for the proper
         operation or conduct of the business, properties and affairs of the
         Company;

                  (b) To consent to any and all actions by or with respect to
         the Company for which consent of the stockholders of the Company is or
         may be necessary or appropriate; and

                  (c) Without limitation, to do all things that Pledgor can do
         or could do as stockholder of the Company, giving Secured Party full
         power of substitution and revocation;

provided, however, that (i) the foregoing irrevocable proxy shall not be
exercisable by Secured Party, and Pledgor alone shall have the foregoing powers,
so long as there is no Event of Default hereunder, and (ii) this irrevocable
proxy shall terminate at such time as this Agreement is no longer in full force
and effect. The foregoing proxy is coupled with an interest sufficient in law to
support an irrevocable power and shall be irrevocable and shall survive the
death or incapacity of Pledgor. Pledgor hereby revokes any proxy or proxies
heretofore given to any person or persons and agrees not to give any other
proxies in derogation hereof until such time as this Agreement is no longer in
full force and effect.

6.       COVENANTS OF PLEDGOR

         6.1 Pledgor shall not sell, transfer, assign or otherwise dispose of
any of the Pledged Securities or any interest therein without obtaining the
prior written consent of Secured Party and shall keep the Pledged Securities
free of all security interests or other encumbrances except the lien and
security interests granted herein.

         6.2 Pledgor shall pay when due all taxes, assessments, expenses and
other charges which may be levied or assessed against the Pledged Securities.

         6.3 Pledgor shall give Secured Party immediate written notice of any
change in Pledgor's name as set forth above and of any change in the location of
Pledgor's chief executive office (or residence if Pledgor is an individual
without an office).

         6.4 Pledgor, at its cost and expense, shall protect and defend the
Pledged Securities, this Agreement and all of the rights of Secured Party
hereunder against all claims and demands of other parties. Pledgor shall pay all
claims and charges that in the opinion of Secured Party might prejudice, imperil
or otherwise affect the Pledged Securities. Pledgor shall promptly notify
Secured Party of any levy, distraint or other seizure, by legal process or
otherwise, of all or any part of the Pledged Securities and of any threatened or
filed claims or proceedings that might in any way affect or impair the terms of
this Agreement.

         6.5 If Pledgor shall fail to pay any taxes, assessments, expenses or
charges, to keep all of the Pledged Securities free from other security
interests, encumbrances or claims, or to perform otherwise as required herein,
Secured Party may advance the monies necessary to pay the same or to so perform.

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         6.6 All rights, powers and remedies granted Secured Party herein, or
otherwise available to Secured Party, are for the sole benefit and protection of
Secured Party, and Secured Party may exercise any such right, power or remedy at
its option and in its sole and absolute discretion without any obligation to do
so. In addition, if, under the terms hereof, Secured Party is given two or more
alternative courses of action, Secured Party may elect any alternative or
combination of alternatives at its option and in its sole and absolute
discretion. All monies advanced by Secured Party under the terms hereof, all
amounts paid, suffered or incurred by Secured Party under the terms hereof and
all amounts paid, suffered or incurred by Secured Party in exercising any
authority granted herein, including reasonable attorneys' fees, shall be added
to the Obligation, shall be secured hereby, shall bear interest at the highest
rate payable on any of the Obligation until paid, and shall be due and payable
by Pledgor to Secured Party immediately without demand.

         6.7 Secured Party shall use such reasonable care in handling,
preserving and protecting the Pledged Securities in its possession as it uses in
handling similar property for its own account. Secured Party, however, shall
have no liability for the loss, destruction or disappearance of any Pledged
Securities unless there is affirmative proof of a lack of due care; the lack of
due care shall not be implied solely by virtue of any loss, destruction or
disappearance. Secured Party shall not be required to take any steps necessary
to preserve any rights in the Pledged Securities against prior parties or to
protect, perfect, preserve or maintain any security interest given to secure the
Pledged Securities.

         6.8 Immediately upon demand by Secured Party, Pledgor shall execute and
deliver to Secured Party such other and additional applications, acceptances,
stock powers, authorizations, irrevocable proxies, dividend and other orders,
chattel paper, instruments or other evidences of payment and such other
documents as Secured Party may reasonably request to secure to Secured Party the
rights, powers and authorities intended to be conferred upon Secured Party by
this Agreement. All assignments and endorsements by Pledgor shall be in such
form and substance as may be satisfactory to Secured Party.

7.       EVENTS OF DEFAULT; REMEDIES

         7.1 "Event of Default" hereunder shall mean any "Event of Default" as
defined in the Loan Agreement.

         7.2 Upon the occurrence of any Event of Default and at any time while
such Event of Default is continuing, Secured Party shall have the following
rights and remedies and may do one or more of the following:

             (a) Declare all or any part of the Obligation to be immediately due
       and payable, and the same, with all costs and charges, shall be
       collectible thereupon by action at law;

             (b) Transfer the Pledged Securities or any part thereof into its
       own name or that of its nominee so that Secured Party or its nominee may
       appear of record as the sole owner thereof;

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             (c) Vote any or all of the Pledged Securities and give all
       consents, waivers and ratifications in respect thereof and otherwise
       acting with respect thereto as though it were the absolute owner thereof;

             (d) Exercise any and all rights of conversion, exchange,
       subscription, or any other rights, privileges or options pertaining to
       any of the Pledged Securities including, but not limited to, the right to
       exchange, at its discretion, any or all of the Pledged Securities upon
       the merger, consolidation, reorganization, recapitalization or other
       readjustment of the Company or upon the exercise by Pledgor or Secured
       Party of any right, privilege or option pertaining to any of the shares
       of the Pledged Securities, and in connection therewith to deposit and
       deliver such shares of Pledged Securities with any committee, depository,
       transfer agent, registrar or any other agency upon such terms as Secured
       Party may determine without liability except to account for the property
       actually received by it;

             (e) Receive and retain any dividend or other distribution on
       account of the Pledged Securities; and

             (f) Sell any or all of the Pledged Securities in accordance with
       the provisions hereof;

but Secured Party shall have no duty to exercise any of the aforesaid rights,
privileges or options and shall not be responsible for any failure to do so or
delay in so doing. Pledgor waives all rights to be advised or to receive any
notices, statements or communications received by Secured Party or its nominee
as the record owner of all or any of the Pledged Securities. Any cash received
and retained by Secured Party as additional collateral hereunder may be applied
to payment in the manner provided in Subparagraph 7.3(c) below.

         7.3 In connection with Secured Party's right to sell any or all of the
Pledged Securities, upon the occurrence of any Event of Default and at any time
while such Event of Default is continuing:

                  (a) (i) Secured Party shall have the right at any time and
                  from time to time to sell, resell, assign and deliver, in its
                  discretion, all or any part of the Pledged Securities in one
                  or more units, at the same or different times, and all right,
                  title and interest, claim and demand therein, and right of
                  redemption thereof, at private sale, or at public sale to the
                  highest bidder for cash, upon credit or for future delivery,
                  Pledgor hereby waiving and releasing to the fullest extent
                  permitted by law any and all equity or right of redemption. If
                  any of the Pledged Securities are sold by Secured Party upon
                  credit or for future delivery, Secured Party shall not be
                  liable for the failure of the purchaser to purchase or pay for
                  same, and, in the event of any such failure, Secured Party may
                  resell such Pledged Securities. In no event shall Pledgor be
                  credited with any part of

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                  the proceeds of the sale of any Pledged Securities until cash
                  payment thereof has actually been received by Secured Party.

                           (ii) No demand, advertisement or notice, all of which
                  are hereby expressly waived, shall be required in connection
                  with any sale or other disposition of all or any part of the
                  Pledged Securities that threatens to decline speedily in value
                  or that is of a type customarily sold on a recognized market;
                  otherwise Secured Party shall give Pledgor at least five (5)
                  days' prior notice of the time and place of any public sale or
                  of the time after which any private sale or other dispositions
                  are to be made, which Pledgor agrees is reasonable, all other
                  demands, advertisements and notices being hereby waived. Upon
                  any sale, whether under this Agreement or by virtue of
                  judicial proceedings, Secured Party may bid for and purchase
                  any or all of the Pledged Securities and, upon compliance with
                  the terms of the sale, may hold, retain, possess and dispose
                  of such items in its own absolute right without further
                  accountability, and as purchaser at such sale, in paying the
                  purchase price, may turn in any note or notes held by Secured
                  Party in lieu of cash up to the amount that would, upon
                  distribution of the net proceeds of such sale in accordance
                  with Subparagraph 7.3(c) hereof, be payable to Secured Party.
                  In case the amount so payable thereon shall be less than the
                  amount due thereon, the note or notes turned in (in lieu of
                  cash) shall be returned to the holder thereof after being
                  properly stamped to show the partial payment effected by such
                  purchase.

                  (b) Pledgor recognizes that Secured Party may be unable to
         effect a sale to the public of all or a part of the Pledged Securities
         by reason of prohibitions contained in applicable securities laws, but
         may be compelled to resort to one or more sales to a restricted group
         of purchasers who will be obliged to agree, among other things, to
         acquire such Pledged Securities for their own account, for investment
         and not with a view to the distribution or resale thereof. Pledgor
         agrees that sales so made may be at prices and other terms less
         favorable to the seller than if such Pledged Securities were sold to
         the public, and that Secured Party has no obligation to delay sale of
         any such Pledged Securities for the period of time necessary to permit
         the issuer of such Pledged Securities to register the same for sale to
         the public under applicable securities laws. Pledgor agrees that
         negotiated sales made under the foregoing circumstances shall be deemed
         to have been made in a commercially reasonable manner.

                  (c) In all sales of Pledged Securities, public or private,
         Secured Party shall apply the proceeds of sale as follows:

                       (i) First, to the payment of all costs and expenses
                incurred hereunder or for the sale, transfer, or delivery,
                including broker's and attorneys' fees;

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                       (ii) Next to the payment of the Obligation; and

                       (iii) The balance, if any, to Pledgor or to the person or
                persons entitled thereto upon proper demand.

         7.4 Secured Party shall have the right, for and in the name, place and
stead of Pledgor, to execute endorsements, assignments or other instruments of
conveyance or transfer with respect to all or any of the Pledged Securities and
any instruments, documents and statements that Pledgor is obligated to furnish
or execute hereunder. Pledgor shall execute and deliver such additional
documents as may be necessary to enable Secured Party to implement such right.

         7.5 Pledgor shall pay all costs and expenses, including without
limitation court costs and reasonable attorneys' fees, incurred by Secured Party
in enforcing payment and performance of the Obligation or in exercising the
rights and remedies of Secured Party hereunder. All such costs and expenses
shall be secured by this Agreement and by all other lien and security documents
securing the Obligation. In the event of any court proceedings, court costs and
attorneys' fees shall be set by the court and not by jury and shall be included
in any judgment obtained by Secured Party.

         7.6 In addition to any remedies provided herein for an Event of
Default, Secured Party shall have all the rights and remedies afforded a secured
party under the Uniform Commercial Code and all other legal and equitable
remedies allowed under applicable law. No failure on the part of Secured Party
to exercise any of its rights hereunder arising upon any Event of Default shall
be construed to prejudice its rights upon the occurrence of any other or
subsequent Event of Default. No delay on the part of Secured Party in exercising
any such rights shall be construed to preclude it from the exercise thereof at
any time while that Event of Default is continuing. Secured Party may enforce
any one or more rights or remedies hereunder successively or concurrently. By
accepting payment or performance of any of the Obligation after its due date,
Secured Party shall not thereby waive the agreement contained herein that time
is of the essence, nor shall Secured Party waive either its right to require
prompt payment or performance when due of the remainder of the Obligation or its
right to consider the failure to so pay or perform an Event of Default.

8.       MISCELLANEOUS PROVISIONS

         8.1 The acceptance of this Agreement by Secured Party shall not be
considered a waiver of or in any way to affect or impair any other security that
Secured Party may have, acquire simultaneously herewith, or hereafter acquire
for the payment or performance of the Obligation, nor shall the taking by
Secured Party at any time of any such additional security be construed as a
waiver of or in any way to affect or impair the right and interest granted
herein; Secured Party may resort, for the payment or performance of the
Obligation, to its several securities therefor in such order and manner as it
may determine.

         8.2 Without notice or demand, without the necessity for any additional
endorsements, without affecting the obligations of Pledgor hereunder or the
personal liability of any person for payment or performance of the Obligation,
and without affecting the rights and interests granted

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herein, Secured Party, from time to time, may: (i) extend the time for payment
of all or any part of the Obligation, accept a renewal note therefor, reduce the
payments thereon, release any person liable for all or any part thereof, or
otherwise change the terms of all or any part of the Obligation; (ii) take and
hold other security for the payment or performance of the Obligation and
enforce, exchange, substitute, subordinate, waive or release any such security;
(iii) join in any extension or subordination agreement; or (iv) release any part
of the Pledged Securities from this Agreement.

         8.3 Pledgor waives and agrees not to assert: (i) any right to require
Secured Party to proceed against any guarantor, to proceed against or exhaust
any other security for the Obligation, to pursue any other remedy available to
Secured Party, or to pursue any remedy in any particular order or manner; (ii)
the benefits of any statute of limitations affecting the enforcement hereof;
(iii) the benefits of any legal or equitable doctrine or principle of
marshalling; (iv) demand, diligence, presentment for payment, protest and
demand, and notice of extension, dishonor, protest, demand and nonpayment,
relating to the Obligation; and (v) any benefit of, and any right to participate
in, any other security now or hereafter held by Secured Party.

         8.4 The terms herein shall have the meanings in and be construed under
the Uniform Commercial Code. This Agreement shall be governed by and construed
according to the internal laws of the State of Arizona. Each provision of this
Agreement shall be interpreted in such manner as to be effective and valid under
applicable law, but if any provision of this Agreement is held to be void or
invalid, the same shall not affect the remainder hereof which shall be effective
as though the void or invalid provision had not been contained herein.

         8.5 No modification, rescission, waiver, release or amendment of any
provision of this Agreement shall be made except by a written agreement executed
by Pledgor and a duly authorized officer of Secured Party.

         8.6 This is a continuing agreement, which shall remain in full force
and effect until actual receipt by Secured Party of written notice of its
revocation as to future transactions and shall remain in full force and effect
thereafter until all of the Obligation incurred before the receipt of such
notice, and all of the Obligation incurred thereafter under commitments extended
by Secured Party before the receipt of such notice, shall have been paid and
performed in full.

         8.7 No setoff or claim that Pledgor now has or may in the future have
against Secured Party shall relieve Pledgor from paying or performing its
obligations hereunder.

         8.8 Time is of the essence hereof. If more than one Pledgor is named
herein, the word Pledgor shall mean all and any one or more of them, severally
and collectively. All liability hereunder shall be joint and several. This
Agreement shall be binding upon, and shall inure to the benefit of, the parties
hereto and their heirs, personal representatives, successors and assigns. The
term "Secured Party" shall include not only the original Secured Party hereunder
but also any future owner and holder, including pledgees, of the note or notes
evidencing the Obligation. The provisions hereof shall apply to the parties
according to the context thereof and without regard to the number or gender of
words or expressions used.

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         8.9 All notices required or permitted to be given hereunder shall be in
writing and may be given in person or by United States mail, by delivery service
or by electronic transmission. Any notice directed to a party to this Agreement
shall become effective upon the earliest of the following: (i) actual receipt by
that party; (ii) delivery to the designated address of that party, addressed to
that party; or (iii) if given by certified or registered United States mail,
twenty-four (24) hours after deposit with the United States Postal Service,
postage prepaid, addressed to that party at its designated address. The
designated address of a party shall be the address of that party shown at the
beginning of this Agreement or such other address as that party, from time to
time, may specify by notice to the other parties.

         8.10 A carbon, photographic or other reproduced copy of this Agreement
and/or any financing statement relating hereto shall be sufficient for filing
and/or recording as a financing statement.

         IN WITNESS WHEREOF, these presents are executed as of the date
indicated above.

                                  SCHUFF INTERNATIONAL, INC.,
                                  a Delaware corporation

                                          By:  /s/ Michael R. Hill
                                             -----------------------------------
                                          Name:    Michael R. Hill
                                               ---------------------------------
                                          Title:   CFO
                                                --------------------------------

                                                                         PLEDGOR

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                                  SCHEDULE "A"

       All issued and outstanding shares of stock in the following corporations,
now or hereafter owned by Pledgor, which as of the date hereof consists of the
following shares of stock.

       Company                                    Stock Class      Shares No.
       -------                                    -----------      ----------

Schuff Steel Company, a Delaware corporation
Bannister Steel Inc., a California corporation
Addison Steel, Inc., a Florida corporation
Quincy Joist Company, a Florida corporation
Six Industries, Inc., a Texas corporation
Aitken, Inc., a Texas corporation
On-Time Steel Management, Inc., a Delaware corporation

<PAGE>

                                   EXHIBIT "1"

                      ASSIGNMENT SEPARATE FROM CERTIFICATE

         FOR VALUE RECEIVED, the undersigned does hereby sell, assign and
transfer to __________________________________________, ____________ (_____)
shares of common stock of _____________________________________, a(n)
_______________corporation (the "Corporation"), represented by certificate
number __ in the name of the undersigned on the books of the Corporation.

        The undersigned does hereby irrevocably constitute and appoint any
officer of the Corporation as attorney to transfer said stock on the books of
the Corporation with full power of substitution in the premises.

        Dated as of _____________________.

                                         SCHUFF INTERNATIONAL, INC., a Delaware
                                         corporation

                                         By:  /s/ Michael R. Hill
                                           -------------------------------------
                                         Name:
                                              ----------------------------------
                                         Title:
                                               ---------------------------------<PAGE>

                                                                EXHIBIT 10.20(k)

                               CONTINUING GUARANTY

TO:  WELLS FARGO BANK, NATIONAL ASSOCIATION for itself and as Agent

     1. GUARANTY; DEFINITIONS. In consideration of any credit or other financial
accommodation heretofore, now or hereafter extended or made to SCHUFF
INTERNATIONAL, INC., a Delaware corporation ("Borrower"), by WELLS FARGO BANK,
NATIONAL ASSOCIATION, for itself and as agent for one or more Lenders ("Bank"),
and for other valuable consideration, the undersigned SCHUFF STEEL COMPANY, a
Delaware corporation ("Guarantor"), jointly and severally unconditionally
guarantees and promises to pay to Bank, or order, on demand in lawful money of
the United States of America and in immediately available funds, any and all
Indebtedness of Borrower to Bank. The term "Indebtedness" is used herein in its
most comprehensive sense and includes any and all advances, debts, obligations
and liabilities of Borrower, heretofore, now or hereafter made, incurred or
created, whether voluntary or involuntary and however arising, whether due or
not due, absolute or contingent, liquidated or unliquidated, determined or
undetermined, and whether Borrower may be liable individually or jointly with
others, or whether recovery upon such Indebtedness may be or hereafter becomes
unenforceable. The term "Lenders" means those Lenders listed from time to time
in that Credit Agreement dated as of June 30, 1998 between Guarantor as
predecessor in interest to Borrower and Bank as Administrative Agent for the
Lenders and as Arranger, Issuing Bank and Swing Line Lender.

     2. MAXIMUM LIABILITY; SUCCESSIVE TRANSACTIONS; REVOCATION; OBLIGATION UNDER
OTHER GUARANTIES. The liability of Guarantor shall not exceed at any one time
the sum of FIFTEEN MILLION AND NO/100 DOLLARS ($15,000,000.00) for principal,
plus all interest thereon and costs and expenses pertaining to the enforcement
of this Guaranty and/or the collection of the Indebtedness of Borrower to Bank.
Notwithstanding the foregoing, Bank may permit the Indebtedness of Borrower to
exceed Guarantor's liability. This is a continuing guaranty and all rights,
powers and remedies hereunder shall apply to all past, present and future
Indebtedness of Borrower to Bank, including that arising under successive
transactions which shall either continue the Indebtedness, increase or decrease
it, or from time to time create new Indebtedness after all or any prior
Indebtedness has been satisfied, and notwithstanding the death, incapacity,
dissolution, liquidation or bankruptcy of Borrower or Guarantor or any other
event or proceeding affecting Borrower or Guarantor. This Guaranty shall not
apply to any new Indebtedness created after actual receipt by Bank of written
notice of its revocation as to such new Indebtedness; provided however, that
loans or advances made by Bank to Borrower after revocation under commitments
existing prior to receipt by Bank of such revocation, and extensions, renewals
or modifications, of any kind, of Indebtedness incurred by Borrower or committed
by Bank prior to receipt by Bank of such revocation, shall not be considered new
Indebtedness. Any such notice must be sent to Bank by registered U.S. mail,
postage prepaid, addressed to its office at 100 West Washington, Phoenix,
Arizona 85003, Attention: John Helms #S4101-251, or at such other address as
Bank shall from time to time designate. Any payment by Guarantor shall not
reduce Guarantor's maximum obligation hereunder unless written notice to that
effect is actually received by Bank at or prior to the time of such payment. The
obligations of Guarantor hereunder shall be in addition to any obligations of
Guarantor under any other guaranties of any liabilities or obligations of
Borrower or any other
<PAGE>
person heretofore or hereafter given to Bank unless said other guaranties are
expressly modified or revoked in writing; and this Guaranty shall not, unless
expressly herein provided, affect or invalidate any such other guaranties.

     3. OBLIGATIONS JOINT AND SEVERAL; SEPARATE ACTIONS; WAIVER OF STATUTE OF
LIMITATIONS; REINSTATEMENT OF LIABILITY. The obligations hereunder are joint and
several and independent of the obligations of Borrower, and a separate action or
actions may be brought and prosecuted against Guarantor whether action is
brought against Borrower or any other person, or whether Borrower or any other
person is joined in any such action or actions. Guarantor acknowledges that this
Guaranty is absolute and unconditional, there are no conditions precedent to the
effectiveness of this Guaranty, and this Guaranty is in full force and effect
and is binding on Guarantor as of the date written below, regardless of whether
Bank obtains collateral or any guaranties from others or takes any other action
contemplated by Guarantor. Guarantor waives the benefit of any statute of
limitations affecting Guarantor's liability hereunder or the enforcement
thereof, and Guarantor agrees that any payment of any Indebtedness or other act
which shall toll any statute of limitations applicable thereto shall similarly
operate to toll such statute of limitations applicable to Guarantor's liability
hereunder. The liability of Guarantor hereunder shall be reinstated and revived
and the rights of Bank shall continue if and to the extent for any reason any
amount at any time paid on account of any Indebtedness guaranteed hereby is
rescinded or must otherwise be restored by Bank, whether as a result of any
proceedings in bankruptcy or reorganization or otherwise, all as though such
amount had not been paid. The determination as to whether any amount so paid
must be rescinded or restored shall be made by Bank in its sole discretion;
provided however, that if Bank chooses to contest any such matter at the request
of Guarantor, Guarantor agrees to indemnify and hold Bank harmless from and
against all costs and expenses, including reasonable attorneys' fees, expended
or incurred by Bank in connection therewith, including without limitation, in
any litigation with respect thereto.

     4. AUTHORIZATIONS TO BANK. Guarantor authorizes Bank either before or after
revocation hereof, without notice to or demand on Guarantor, and without
affecting Guarantor's liability hereunder, from time to time to: (a) alter,
compromise, renew, extend, accelerate or otherwise change the time for payment
of, or otherwise change the terms of the Indebtedness or any portion thereof,
including increase or decrease of the rate of interest thereon; (b) take and
hold security for the payment of this Guaranty or the Indebtedness or any
portion thereof, and exchange, enforce, waive, subordinate or release any such
security; (c) apply such security and direct the order or manner of sale
thereof, including without limitation, a non-judicial sale permitted by the
terms of the controlling security agreement or deed of trust, as Bank in its
discretion may determine; (d) release or substitute any one or more of the
endorsers or any other guarantors of the Indebtedness, or any portion thereof,
or any other party thereto; and (e) apply payments received by Bank from
Borrower to any Indebtedness of Borrower to Bank, in such order as Bank shall
determine in its sole discretion, whether or not such Indebtedness is covered by
this Guaranty, and Guarantor hereby waives any provision of law regarding
application of payments which specifies otherwise. Bank may without notice
assign this Guaranty in whole or in part. Upon Bank's request, Guarantor agrees
to provide to Bank copies of Guarantor's financial statements.

                                      -2-
<PAGE>
     5. REPRESENTATIONS AND WARRANTIES. Guarantor represents and warrants to
Bank that: (a) this Guaranty is executed at Borrower's request; (b) Guarantor
shall not, without Bank's prior written consent, sell, lease, assign, encumber,
hypothecate, transfer or otherwise dispose of all or a substantial or material
part of Guarantor's assets other than in the ordinary course of Guarantor's
business; (c) Bank has made no representation to Guarantor as to the
creditworthiness of Borrower; and (d) Guarantor has established adequate means
of obtaining from Borrower on a continuing basis financial and other information
pertaining to Borrower's financial condition. Guarantor agrees to keep
adequately informed from such means of any facts, events or circumstances which
might in any way affect Guarantor's risks hereunder, and Guarantor further
agrees that Bank shall have no obligation to disclose to Guarantor any
information or material about Borrower which is acquired by Bank in any manner.

     6. GUARANTOR'S WAIVERS.

          (a) Guarantor waives any right to require Bank to: (i) proceed against
Borrower or any other person; (ii) marshal assets or proceed against or exhaust
any security held from Borrower or any other person; (iii) give notice of the
terms, time and place of any public or private sale of personal property
security held from Borrower or any other person, or otherwise comply with the
provisions of A.R.S. Section 47-9504; (iv) take any action or pursue any other
remedy in Bank's power; or (v) make any presentment or demand for performance,
or give any notice of nonperformance, protest, notice of protest or notice of
dishonor hereunder or in connection with any obligations or evidences of
indebtedness held by Bank as security for or which constitute in whole or in
part the Indebtedness guaranteed hereunder, or in connection with the creation
of new or additional Indebtedness.

          (b) Guarantor waives any defense to its obligations hereunder based
upon or arising by reason of: (i) any disability or other defense of Borrower or
any other person; (ii) the cessation or limitation from any cause whatsoever,
other than payment in full, of the Indebtedness of Borrower or any other person;
(iii) any lack of authority of any officer, director, partner, agent or any
other person acting or purporting to act on behalf of Borrower, if a
corporation, partnership or other type of entity, or any defect in the formation
of such Borrower; (iv) the application by Borrower of the proceeds of any
Indebtedness for purposes other than the purposes represented by Borrower to, or
intended or understood by, Bank or Guarantor; (v) any act or omission by Bank
which directly or indirectly results in or aids the discharge of Borrower or any
portion of the Indebtedness by operation of law or otherwise, or which in any
way impairs or suspends any rights or remedies of Bank against Borrower; (vi)
any impairment of the value of any interest in any security for the Indebtedness
or any portion thereof, including without limitation, the failure to obtain or
maintain perfection or recordation of any interest in any such security, the
release of any such security without substitution, and/or the failure to
preserve the value of, or to comply with applicable law in disposing of, any
such security; or (vii) any modification of the Indebtedness, in any form
whatsoever, including any modification made after revocation hereof to any
Indebtedness incurred prior to such revocation, and including without limitation
the renewal, extension, acceleration or other change in time for payment of, or
other change in the terms of, the Indebtedness or any portion thereof, including
increase or decrease of the rate of interest thereon. Until all Indebtedness
shall have been paid in full, Guarantor shall have no right of subrogation, and
Guarantor waives any right to enforce any remedy which Bank

                                      -3-
<PAGE>
now has or may hereafter have against Borrower or any other person, and waives
any benefit of, or any right to participate in, any security now or hereafter
held by Bank. Guarantor further waives all rights and defenses Guarantor may
have arising out of (A) any election of remedies by Bank, even though that
election of remedies, such as a non-judicial foreclosure with respect to any
security for any portion of the Indebtedness, destroys Guarantor's rights of
subrogation or Guarantor's rights to proceed against Borrower for reimbursement,
or (B) any loss of rights Guarantor may suffer by reason of any rights, powers
or remedies of Borrower in connection with any anti-deficiency laws or any other
laws limiting, qualifying or discharging Borrower's Indebtedness, whether by
operation of law or otherwise, including any rights Guarantor may have to a fair
market value hearing to determine the size of a deficiency following any
trustee's foreclosure sale or other disposition of any real property security
for any portion of the Indebtedness, and Guarantor waives the benefits of A.R.S.
Sections 12-1566, 12-1641 et seq., 33-814, 44-142 and Rule 17(F) of the Arizona
Rules of Civil Procedure.

     7. BANK'S RIGHTS WITH RESPECT TO GUARANTOR'S PROPERTY IN BANK'S POSSESSION.
In addition to all liens upon and rights of setoff against the monies,
securities or other property of Guarantor given to Bank by law, Bank shall have
a lien upon and a right of setoff against all monies, securities and other
property of Guarantor now or hereafter in the possession of or on deposit with
Bank, whether held in a general or special account or deposit or for safekeeping
or otherwise, and every such lien and right of setoff may be exercised without
demand upon or notice to Guarantor. No lien or right of setoff shall be deemed
to have been waived by any act or conduct on the part of Bank, or by any neglect
to exercise such right of setoff or to enforce such lien, or by any delay in so
doing, and every right of setoff and lien shall continue in full force and
effect until such right of setoff or lien is specifically waived or released by
Bank in writing.

     8. SUBORDINATION. Any Indebtedness of Borrower now or hereafter held by
Guarantor is hereby subordinated to the Indebtedness of Borrower to Bank. Such
Indebtedness of Borrower to Guarantor is assigned to Bank as security for this
Guaranty and the Indebtedness and, if Bank requests, shall be collected and
received by Guarantor as trustee for Bank and paid over to Bank on account of
the Indebtedness of Borrower to Bank but without reducing or affecting in any
manner the liability of Guarantor under the other provisions of this Guaranty.
Any notes or other instruments now or hereafter evidencing such Indebtedness of
Borrower to Guarantor shall be marked with a legend that the same are subject to
this Guaranty and, if Bank so requests, shall be delivered to Bank. Guarantor
will, and Bank is hereby authorized in the name of Guarantor from time to time
to, execute and file financing statements and continuation statements and
execute such other documents and take such other action as Bank deems necessary
or appropriate to perfect, preserve and enforce its rights hereunder.

     9. REMEDIES; NO WAIVER. All rights, powers and remedies of Bank hereunder
are cumulative. No delay, failure or discontinuance of Bank in exercising any
right, power or remedy hereunder shall affect or operate as a waiver of such
right, power or remedy; nor shall any single or partial exercise of any such
right, power or remedy preclude, waive or otherwise affect any other or further
exercise thereof or the exercise of any other right, power or remedy. Any
waiver, permit, consent or approval of any kind by Bank of any breach of this
Guaranty, or

                                      -4-
<PAGE>
any such waiver of any provisions or conditions hereof, must be in writing and
shall be effective only to the extent set forth in writing.

     10. COSTS, EXPENSES AND ATTORNEYS' FEES. Guarantor shall pay to Bank
immediately upon demand the full amount of all payments, advances, charges,
costs and expenses, including reasonable attorneys' fees (to include outside
counsel fees and all allocated costs of Bank's in-house counsel), expended or
incurred by Bank in connection with the enforcement of any of Bank's rights,
powers or remedies and/or the collection of any amounts which become due to Bank
under this Guaranty, and the prosecution or defense of any action in any way
related to this Guaranty, whether incurred at the trial or appellate level, in
an arbitration proceeding or otherwise, and including any of the foregoing
incurred in connection with any bankruptcy proceeding (including without
limitation, any adversary proceeding, contested matter or motion brought by Bank
or any other person) relating to Guarantor or any other person or entity. All of
the foregoing shall be paid by Guarantor with interest from the date of demand
until paid in full at a rate per annum equal to the greater of ten percent (10%)
or the Prime Rate in effect from time to time. The "Prime Rate" is a base rate
that Bank from time to time establishes and which serves as the basis upon which
effective rates of interest are calculated for those loans making reference
thereto.

     11. SUCCESSORS; ASSIGNMENT. This Guaranty shall be binding upon and inure
to the benefit of the heirs, executors, administrators, legal representatives,
successors and assigns of the parties; provided however, that Guarantor may not
assign or transfer any of its interests or rights hereunder without Bank's prior
written consent. Guarantor acknowledges that Bank has the right to sell, assign,
transfer, negotiate or grant participations in all or any part of, or any
interest in, any Indebtedness of Borrower to Bank and any obligations with
respect thereto, including this Guaranty. In connection therewith, Bank may
disclose all documents and information which Bank now has or hereafter acquires
relating to Guarantor and/or this Guaranty, whether furnished by Borrower,
Guarantor or otherwise. Guarantor further agrees that Bank may disclose such
documents and information to Borrower.

     12. AMENDMENT. This Guaranty may be amended or modified only in writing
signed by Bank and Guarantor.

     13. UNDERSTANDING WITH RESPECT TO WAIVERS; SEVERABILITY OF PROVISIONS.
Guarantor warrants and agrees that each of the waivers set forth herein is made
with Guarantor's full knowledge of its significance and consequences, and that
under the circumstances, the waivers are reasonable and not contrary to public
policy or law. If any waiver or other provision of this Guaranty shall be held
to be prohibited by or invalid under applicable public policy or law, such
waiver or other provision shall be ineffective only to the extent of such
prohibition or invalidity, without invalidating the remainder of such waiver or
other provision or any remaining provisions of this Guaranty.

     14. GOVERNING LAW. This Guaranty shall be governed by and construed in
accordance with the laws of the State of Arizona.

                                      -5-
<PAGE>
     15. ARBITRATION.

          (a) Arbitration. Upon the demand of any party, any Dispute shall be
resolved by binding arbitration (except as set forth in (e) below) in accordance
with the terms of this Guaranty. A "Dispute" shall mean any action, dispute,
claim or controversy of any kind, whether in contract or tort, statutory or
common law, legal or equitable, now existing or hereafter arising under or in
connection with, or in any way pertaining to, this Guaranty and each other
document, contract and instrument required hereby or now or hereafter delivered
to Bank in connection herewith (collectively, the "Documents"), or any past,
present or future extensions of credit and other activities, transactions or
obligations of any kind related directly or indirectly to any of the Documents,
including without limitation, any of the foregoing arising in connection with
the exercise of any self-help, ancillary or other remedies pursuant to any of
the Documents. Any party may by summary proceedings bring an action in court to
compel arbitration of a Dispute. Any party who fails or refuses to submit to
arbitration following a lawful demand by any other party shall bear all costs
and expenses incurred by such other party in compelling arbitration of any
Dispute.

          (b) Governing Rules. Arbitration proceedings shall be administered by
the American Arbitration Association ("AAA") or such other administrator as the
parties shall mutually agree upon in accordance with the AAA Commercial
Arbitration Rules. All Disputes submitted to arbitration shall be resolved in
accordance with the Federal Arbitration Act (Title 9 of the United States Code),
notwithstanding any conflicting choice of law provision in any of the Documents.
The arbitration shall be conducted at a location in Arizona selected by the AAA
or other administrator. If there is any inconsistency between the terms hereof
and any such rules, the terms and procedures set forth herein shall control. All
statutes of limitation applicable to any Dispute shall apply to any arbitration
proceeding. All discovery activities shall be expressly limited to matters
directly relevant to the Dispute being arbitrated. Judgment upon any award
rendered in an arbitration may be entered in any court having jurisdiction;
provided however, that 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.
Section 91 or any similar applicable state law.

          (c) No Waiver; Provisional Remedies, Self-Help and Foreclosure. No
provision hereof shall limit the right of any party to exercise self-help
remedies such as setoff, foreclosure against or sale of any real or personal
property collateral or security, or to obtain provisional or ancillary remedies,
including without limitation injunctive relief, sequestration, attachment,
garnishment or the appointment of a receiver, from a court of competent
jurisdiction before, after or during the pendency of any arbitration or other
proceeding. The exercise of any such remedy shall not waive the right of any
party to compel arbitration hereunder.

          (d) Arbitrator Qualifications and Powers; Awards. Arbitrators must be
active members of the Arizona State Bar or retired judges of the state or
federal judiciary of Arizona, with expertise in the substantive law applicable
to the subject matter of the Dispute. Arbitrators are empowered to resolve
Disputes by summary rulings in response to motions filed prior to the final
arbitration hearing. Arbitrators (i) shall resolve all Disputes in accordance
with the substantive law of the state of Arizona, (ii) may grant any remedy or
relief that a court of the state of Arizona could order or grant within the
scope hereof and such ancillary relief as is necessary to make effective any
award, and (iii) shall have the power to award recovery of all

                                      -6-
<PAGE>
costs and fees, to impose sanctions and to take such other actions as they deem
necessary to the same extent a judge could pursuant to the Federal Rules of
Civil Procedure, the Arizona Rules of Civil Procedure or other applicable law.
Any Dispute in which the amount in controversy is $5,000,000.00 or less shall be
decided by a single arbitrator who shall not render an award of greater than
$5,000,000.00 (including damages, costs, fees and expenses). By submission to a
single arbitrator, each party expressly waives any right or claim to recover
more 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.

          (e) Judicial Review. Notwithstanding anything herein to the contrary,
in any arbitration in which the amount in controversy exceeds $25,000,000.00,
the arbitrators shall be required to make specific, written findings of fact and
conclusions of law. In such arbitrations (i) the arbitrators shall not have the
power to make any award which is not supported by substantial evidence or which
is based on legal error, (ii) an award shall not be binding upon the parties
unless the findings of fact are supported by substantial evidence and the
conclusions of law are not erroneous under the substantive law of the state of
Arizona, and (iii) the parties shall have in addition to the grounds referred to
in the Federal Arbitration Act for vacating, modifying or correcting an award
the right to judicial review of (A) whether the findings of fact rendered by the
arbitrators are supported by substantial evidence, and (B) whether the
conclusions of law are erroneous under the substantive law of the state of
Arizona. Judgment confirming an award in such a proceeding may be entered only
if a court determines the award is supported by substantial evidence and not
based on legal error under the substantive law of the state of Arizona.

          (f) 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, by applicable law or
regulation, or to the extent necessary to exercise any judicial review rights
set forth herein. 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 Documents or the subject matter of the Dispute shall
control. This arbitration provision shall survive termination, amendment or
expiration of any of the Documents or any relationship between the parties.

     IN WITNESS WHEREOF, the undersigned Guarantor has executed this Guaranty as
of 27th day of September, 2001.

                                    SCHUFF STEEL COMPANY, a Delaware corporation

                                    By:           /s/ Michael R. Hill
                                       -----------------------------------------
                                    Name:  Michael R. Hill
                                         ---------------------------------------
                                    Title: CFO
                                          --------------------------------------

                                      -7-

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