Document:

SECURITY AGREEMENT - Investment Property

                                             Date of Agreement
                                             Effective April 21,
                                             2000
   Debtor Name and Address          Lender Name and Address
PRIME FINANCIAL CORPORATION    STILLWATER NATIONAL BANK AND
16 South Pennsylvania Ave      TRUST COMPANY
Oklahoma City, OK 73107        6305 Waterford Blvd., Suite 205
                               Oklahoma City, OK 73118

As  of  the date indicated above, the undersigned Debtor and  the
undersigned Lender agree as follows:

I.   GRANT  OF  A  SECURITY INTEREST.  For  value  received,  the
Undersigned  (hereinafter individually referred to  as  "Debtor")
hereby  grants to Lender named above a security interest  in  the
property described in Paragraph II, which property is hereinafter
referred to collectively as "Collateral".  This security interest
is given to secure all the obligations of the Debtor to Lender as
more fully set forth in Paragraphs IV and V hereof.

II.  COLLATERAL.

A.  The Collateral shall include all Investment Property and
     the  proceeds  thereof  as  currently  defined  or  may
     hereafter be defined in the Oklahoma Uniform Commercial
     Code,  including, but not limited to , all  issued  and
     outstanding  shares of common stock owned  or  held  by
     Debtor  in  LSB  Industries, Inc., represented  by  the
     certificates  described in Exhibit "A" attached  hereto
     and made a part hereof and all proceeds.

     B.   OWNERSHIP  OF  COLLATERAL.  Debtor  warrants  that  the
     Collateral is currently owned by Debtor..

     C.   LOCATION  OF  COLLATERAL.   Debtor  shall  deliver  the
     certificates  identified on Exhibit A on the date  it  signs
     this Security Agreement.

III.   ADDRESS OF DEBTOR.  Debtor warrants that the address shown
above  is  now or will become Debtors principal place of business
and  the  location of its book keeping and the  location  of  its
accounts.  Debtor agrees to notify Lender Promptly of any  Change
in address.

IV.   OBLIGATIONS  OF  DEBTOR SECURED  BY  THIS  AGREEMENT.   The
security  interest herein granted is given to secure all  of  the
obligations of Debtor to Lender including: A.  The performance of
all  agreements, covenants and warranties of the  Debtor  as  set
forth in this or any other agreement between the parties; B.  The
payment  of Debtor's obligations under its Guaranty Agreement  of
even  date  herewith, wherein it guarantees the  payment  of  the
indebtedness,  as therein defined, of SBL CORPORATION;   C.   All
expenditures   by   Lender  involving  the  performance   of   or
enforcement  of any agreement, covenant or warranty provided  for
by  this or any other agreement between the parties; and D.   All
costs,  attorney's fees and other expenditures of Lender  in  the
collection  and  enforcement of any obligation  or  liability  of
Debtor  to  Lender  and in the collection and enforcement  of  or
realization upon any of the Collateral.

V.   ADDITIONAL  PROVISIONS.  Debtor  agrees  to  the  Additional
Provisions  set  forth  on  pages  3-5  hereof,  the  same  being
incorporated herein by reference.

Lender Name and Address                 Debtor Signature
Stillwater National  Bank  and  PRIME FINANCIAL CORPORATION
Trust Company
6305   Waterford  Blvd,  Suite
205                             By:
Oklahoma City, OK 73118

                      ADDITIONAL PROVISIONS
DEBTOR EXPRESSLY WARRANTS, COVENANTS AND AGREES
                 WARRANTIES AND COVENANTS

A.  RECORDS AND INFORMATION

   1.  Financial  Information.   All loan  applications,  balance
sheets,  earnings  statements, other  financial  information  and
other  representations  which have been,  or  may  hereafter  be,
furnished  to  Lender to induce it to enter into  or  continue  a
financial  transaction with Debtor fairly represent the financial
condition of Debtor as of the date and the period shown  therein,
and  all  other information, reports, documents, papers and  data
furnished  to  Lender  are or shall be, at  the  time  furnished,
accurate  and  correct  in  all material  respects  and  complete
insofar  as completeness may be necessary to give Lender  a  true
and accurate knowledge of the subject matter.  There has been  no
material  change in the financial condition of Debtor  since  the
effective date of the last furnished financial information  which
has not been reported to Lender in writing.
   2.  Furnishing  of  Information on  Collateral.   Debtor  will
furnish Lender information adequate to identify with accuracy all
collateral  in  a  form and substance and  at  times  as  may  be
requested  by  Lender.   Debtor will execute  such  documents  as
Lender  may from time to time require to enable Lender to perfect
the  security interest granted hereby and to receive proceeds  of
and distributions from or interests in the Collateral.
   3.  Books  and Records - Right of Audit.  Debtor will  at  all
times   maintain   accurate  books  and  records   covering   the
Collateral.  Immediately upon the execution of this Agreement and
thereafter, Debtor will mark all books and records with an  entry
showing  the  security interest of Lender in  the  Collateral  in
which Lender has a security interest.
   Lender is hereby given the right and privilege of making  such
inspections  of  the  Collateral as it  deems  necessary  and  of
auditing  or  causing an audit or verification of the  books  and
records of the Debtor relating to the Collateral at any time  and
from  time  to  time, including the contacting  of  customers  or
suppliers   of   Debtor  in  connection  with   such   audit   or
verification.   Debtor  agrees to  assist  Lender  in  every  way
necessary   to   facilitate   such  audits,   verifications   and
inspections.
  4. Location of Records and Inventory.  Debtor shall give Lender
written  notice  of each office or location of  Debtor  at  which
records of Debtor pertaining to accounts and other Collateral are
kept,  and of the location of each place of business and  of  its
chief executive office, of the location at which inventory is  or
will  be  kept,  and  of any changes or discontinuances  in  said
office,  offices,  location or locations.  Debtor  shall  not  be
under  requirement to give such notice if all inventory  and  all
records of Debtor pertaining to the Collateral are kept and shall
be  kept at Debtor's address shown herein, and if such address is
Debtor's chief executive office.

B.  LIEN STATUS, INSURANCE AND ORDINARY COURSE DESCRIPTION

   1.Ownership  Free of Encumbrances.  Except  for  the  security
interest granted hereby, Debtor now owns the Collateral free from
any  prior liens, security interests or encumbrances, and  Debtor
warrants  title  to  and will defend the Collateral  against  all
claims  and  demands  of persons claiming  any  interest  therein
adverse  to  the  Lender.  Debtor will not permit  any  liens  or
security  interests other than the Lender's security interest  to
attach  to  any of the Collateral, will not permit the Collateral
to  be levied upon or attached under any legal process, or permit
any  other  thing  to be done that may impair the  value  of  the
Collateral or the security interest afforded hereby.
  2. Sale, Lease or Disposition of Collateral Prohibited.  Debtor
shall  not sell, transfer, exchange or otherwise dispose  of  the
Collateral  or  any part thereof or the Debtor's  rights  therein
without first obtaining the prior written consent of Lender.  The
consent of Lender may be conditioned upon any requirements  which
the  Lender  deems to be for its protection; and it is understood
and  agreed that such consent will not be deemed to be  effective
unless  and  until  such requirements and  conditions  have  been
fulfilled.
   3.  Financing  Statement.  No Financing  Statement,  or  other
instrument of encumbrance, covering Collateral is on file in  any
public  office.  Debtor agrees to join with Lender  in  executing
one  or  more  Financing  Statements,  or  other  instrument   of
encumbrance, in form satisfactory to Lender, in order to perfect,
or  to  continue perfection of, the security interest  of  Lender
which may arise hereunder.
   4.  Taxes.   Debtor  shall promptly pay  any  and  all  taxes,
assessments  and license fees with respect to the  Collateral  or
the use of the Collateral.

C.  PROCEEDS

   3. Promissory Notes, Chattel Paper, Instruments and Documents.
If  any  of  the Collateral is or becomes evidenced by promissory
notes,  trade  acceptances,  chattel paper,  documents  or  other
instruments  or  writings for the payment of  money,  whether  by
reason  of  the disposition of inventory, the collection  of  any
account or for any other reason, Debtor shall immediately deliver
and pledge same to Lender, appropriately assigned or endorsed  to
the  order  of  the  Lender.  Regardless  of  the  form  of  such
assignment  or  endorsement,  Debtor hereby  waives  presentment,
demand,  notice of dishonor, protest and notice of  protest,  and
all other notices with respect thereto.

                     EVENTS OF DEFAULT

Debtor  shall  be  in  default  under  this  Agreement  upon  the
happening  of  any of the following events or conditions,  herein
called "Events of Default":
  1. Any warranty, covenant, agreement, representation, financial
information  or statement made or furnished to Lender  by  or  in
behalf  of  Debtor to induce Lender to enter into this Agreement,
or  in conjunction therewith, is violated or proves to have  been
false in any material respect when made or furnished.
   2.  Any payment required hereunder is not made when due or  in
accordance with terms of the applicable contract.
   3.  Debtor  defaults  in  the  performance  of  any  covenant,
obligation, warranty or provision contained herein.
   4.  The occurrence of any event or condition which results  in
acceleration  of  the  maturity of the obligation  of  Debtor  to
Lender provided herein.
   5.  The making of any levy against or seizure, garnishment  or
attachment of any Collateral, the consensual encumbrance  thereof
by  Debtor, or the sale, lease or other disposition of Collateral
by Debtor without the prior written consent of Lender as required
elsewhere  in  this  Agreement,  except  inventory  sold  in  the
ordinary course of business.
  6. Any time Lender in its sole discretion believes the prospect
of payment or performance of any liability, covenant, warranty or
obligation secured hereby is impaired.
    7.  The  death,  dissolution,  termination  of  existence  or
insolvency of Debtor, the appointment of a receiver over any part
of Debtor's property or any part of the Collateral, an assignment
for  the  benefit  of  creditors,  or  the  commencement  of  any
proceeding  under any bankruptcy or insolvency law by or  against
Debtor or any guarantor or surety for Debtor.

                         REMEDIES

Upon  the  occurrence of an Event of Default,  and  at  any  time
thereafter, Lender may at its option and without notice or demand
to  Debtor except as otherwise provided by law exercise  any  and
all  rights and remedies provided by the Uniform Commercial  Code
of the state of Oklahoma as well as all other rights and remedies
possessed by Lender, including, but not limited to:
   1.  Declare all liabilities secured hereby immediately due and
payable, and/or proceed to enforce payment and performance of all
liabilities secured hereby.
   2.  Possess all books and records evidencing or pertaining  to
the  Collateral,  and  for this purpose Lender  is  hereby  given
authority to enter into and upon any premises at which such books
and  records or any part of them may be situated, and  to  remove
them.
money  at  the time of any acceleration upon default even  though
such  charges  made are entered on the Lender's books  subsequent
thereto.
   3. Transfer any of the Collateral or evidence thereof into its
own  name or that of a nominee and receive the proceeds therefrom
and  hold  the same as security for the liabilities of Debtor  to
Lender or apply it on or against any such liability.  Lender  may
also  demand,  collect, receipt for, settle, compromise,  adjust,
sue for, foreclose, release or realize upon Collateral in its own
name or in the name of the Debtor as Lender may determine.
   4.  Sell or other wise dispose of the Collateral. Lender  will
give Debtor reasonable notice of the time and place of any public
sale,  or  of  the  time after which any private  sale  or  other
disposition  is to be made.  Any requirement of notice  shall  be
met  if  notice  is mailed, postage prepaid, to  the  address  of
Debtor provided herein and faxed to (405) 236-1209, at least  ten
days before sale or other disposition or action.  Lender shall be
entitled to, and Debtor shall be liable for, all reasonable costs
and  expenditures incurred in realizing on its security interest,
including  without  limitation, court costs,  selling  costs  and
reasonable   attorneys'  fees  as  set  forth  in  any   guaranty
agreement.   All  such  costs shall be secured  by  the  security
interest in the Collateral covered herein.
   5.  Lender shall not be liable for any act or omission on  the
part of Lender, its officers, agents or employees, except as  the
same  constitutes a lack of good faith or failure  to  act  in  a
commercially  reasonable manner.  Lender shall have  acted  in  a
commercially  reasonable manner if its action  or  non-action  is
consistent  with  the general usage of lenders  in  the  area  of
Lender's  location  at the time the action or non-action  occurs,
but  this  standard  shall  not  constitute  disapproval  of  any
procedures   which   may  be  otherwise  reasonable   under   the
circumstances  nor  require Lender to  take  necessary  steps  to
preserve rights against prior parties in an instrument or chattel
paper.

                          GENERAL

  1. Expenditures of Lender.  At its option and after any written
notice  to Debtor required by law, which notice Debtor and Lender
hereby  agree  is sufficient if mailed, postage prepaid,  to  the
address  of  Debtor provided for herein at least ten days  before
the  commencement  of  the performance of  the  duties  specified
herein,  it is agreed Lender may discharge taxes, liens, security
interests or other encumbrances on the Collateral.  Debtor  shall
be  liable  for and agrees to pay Lender for all expenditures  of
Lender  for taxes on the Collateral, for the discharge of  liens,
security  interests or other encumbrances on the Collateral,  and
for  all costs, attorneys' fees and other disbursements of Lender
in  connection  with  the foregoing.  Debtor agrees  promptly  to
reimburse  Lender  for  all  such  expenditures  and  until  such
reimbursement   the  amounts  of  such  expenditures   shall   be
considered  a liability of Debtor to Lender which is  secured  by
this  Agreement.  Debtor agrees promptly to reimburse Lender  for
all  such expenditures, and until such reimbursement the  amounts
of such expenditures shall be considered a liability of Debtor to
Lender which is secured by this Agreement.
   2. Right to Offset.  Any property, tangible or intangible,  of
Debtor  in  possession  of Lender at any  time  during  the  term
hereof,  or  any indebtedness due from Lender to Debtor  and  any
deposit or credit balances due from Lender to Debtor, or  any  of
the  foregoing  of any party hereto is pledged to secure  payment
hereof  and  may  at  any time while the whole  or  any  part  of
Debtor's indebtedness to Lender remains unpaid, whether before or
after  maturity thereof, be appropriated, held or applied  toward
the payment of any obligation of Debtor to Lender.
   3.  Applicable  Law.  The law of the State of  Oklahoma  shall
control this Agreement.
   4.  Waivers.   No  act, delay or omission, including  Lender's
waiver  of  remedy  because  of  any  default  hereunder,   shall
constitute a waiver of any of Lender's rights and remedies  under
this  Agreement or any other agreement between the parties.   All
rights and remedies of Lender are cumulative and may be exercised
singularly or concurrently, and the exercise of any one  or  more
remedy  will  not  be a waiver of any other.  No waiver,  change,
modification  or  discharge  of any  of  Lender's  rights  or  of
Debtor's  duties  as so specified or allowed  will  be  effective
unless  in  writing  and signed by a duly authorized  officer  of
Lender, and any such waiver will not be a bar to the exercise  of
any right or remedy on any subsequent default.
  5. Agreement Binding on Assigns.  This Agreement shall inure to
the benefit of the successors and assigns of Lender and shall  be
binding upon the successors and assigns of Debtor.
   6. Rights of Lender Assignable.  Lender at any time and at its
option  may  pledge,  transfer or assign its  rights  under  this
Agreement  in  whole or in part, and any pledgee, transferee,  or
assignee shall have all the rights of Lender as to the rights  or
parts thereof so pledged, transferred or assigned.  The rights of
the Debtor hereunder may not be assigned.
   7.  Separability  of  Provisions.  If any  provision  of  this
Agreement  shall  for  any  reason  be  held  to  be  invalid  or
unenforceable,  such  invalidity or  unenforceability  shall  not
affect  any other provision hereof, and this Agreement  shall  be
construed as if such invalid or unenforceable provision had never
been contained herein.
   9.  Copies.  A carbon, photographic, or other reproduction  of
this Security Agreement or of any financing statement prepared or
filed with respect hereto is sufficient as a financing statement.
   10.Notice of Name Change, etc.  Debtor will immediately notify
Lender  of  any change in his, her, its, or their name, identity,
or organizational or corporate structure.

                            EXHIBIT A

  Exhibit A
    Owner      CUSIP Number  Quantity  Date Issued Certifica
                                                   te Number
        Prime   502160104       20,900   10/4/1994       OKS 7570
    Financial
        Prime   502160104      227,000   10/4/1994       OKS 7561
    Financial
        Prime   502160104       17,000  10/11/1994       OKS 7585
    Financial
        Prime   502160104       90,000  10/19/1994       OKS 7528
    Financial
        Prime   502160104      224,416   5/23/1995       OKS
10622
    Financial
        Prime   502160104        1,000   3/28/1996       OKS
10926
    Financial
        Prime   502160104        1,500   3/28/1996       OKS
10927
    Financial
        Prime   502160104        1,000   3/28/1996       OKS
10925
    Financial
        Prime   502160104       10,000   9/16/1996       OKS
11139
    Financial
        Prime   502160104        5,000   9/17/1996       OKS
11142
    Financial
        Prime   502160104        5,000   9/19/1996       OKS
11147
    Financial
        Prime   502160104        6,000   1/10/1997       OKS
11242
    Financial
        Prime   502160104        1,000   1/16/1997       OKS
11246
    Financial
        Prime   502160104        2,200   4/16/1997       OKS
11288
    Financial
        Prime   502160104        6,000   4/29/1997       OKS
11309
    Financial
        Prime   502160104       10,500   4/29/1997       OKS
11312
    Financial
        Prime   502160104        4,000   4/29/1997       OKS
11304
    Financial
        Prime   502160104       11,000   4/29/1997       OKS
11313
    Financial
        Prime   502160104        5,000   4/29/1997       OKS
11305
    Financial
        Prime   502160104       15,000   4/29/1997       OKS
11314
    Financial
        Prime   502160104        6,000   4/29/1997       OKS
11308
    Financial
        Prime   502160104        5,000   4/29/1997       OKS
11306
    Financial
        Prime   502160104       10,000   4/29/1997       OKS
11311
    Financial
        Prime   502160104        8,000   4/29/1997       OKS
11310
    Financial
        Prime   502160104        6,000   4/29/1997       OKS
11307
    Financial
        Prime   502160104       34,550   4/30/1997       OKS
11318
    Financial
        Prime   502160104        2,000    5/1/1997       OKS
11320
    Financial
        Prime   502160104        2,000    5/1/1997       OKS
11321
    Financial
        Prime   502160104        4,000    5/1/1997       OKS
11322
    Financial
        Prime   502160104        2,000    5/1/1997       OKS
11319
    Financial
        Prime   502160104       25,000   7/16/1997       OKS
11366
    Financial
        Prime   502160104       14,000    8/1/1997       OKS
11381
    Financial
        Prime   502160104       17,000    8/1/1997       OKS
11384
    Financial
        Prime   502160104       23,000    8/5/1997       OKS
11387
    Financial
        Prime   502160104       19,000    8/8/1997       OKS
11389
    Financial
        Prime   502160104       20,000   9/16/1997       OKS
11140
    Financial
        Prime   502160104          295   9/18/1997       OKS
11400
    Financial
        Prime   502160104       16,000    1/9/1998       OKS
11473
    Financial
        Prime   502160104          500    1/9/1998       OKS
11471
    Financial
        Prime   502160104        3,000    1/9/1998       OKS
11472
    Financial
        Prime   502160104        2,000   1/13/1998       OKS
11475
    Financial
        Prime   502160104       21,000   1/13/1998       OKS
11476
    Financial
        Prime   502160104        4,000   1/16/1998       OKS
11478
    Financial
        Prime   502160104        3,000    2/4/1998       OKS
11490
    Financial
        Prime   502160104       50,000    2/4/1998       OKS
11491
    Financial
        Prime   502160104       25,000   3/26/1998       OKS
11519
    Financial
        Prime   502160104       50,000   3/26/1998       OKS
11518
    Financial
        Prime   502160104       31,100   3/26/1998       OKS
11517
    Financial
        Prime   502160104        8,200   3/26/1998       OKS
11516
    Financial
        Prime   502160104        3,000   3/26/1998       OKS
11515
    Financial
        Prime   502160104        3,000   3/26/1998       OKS
11514
    Financial
        Prime   502160104        3,000   3/26/1998       OKS
11512
    Financial
        Prime   502160104        3,000   3/26/1998       OKS
11513
    Financial
        Prime   502160104        3,000   3/26/1998       OKS
11494
    Financial
        Prime   502160104        2,500   5/21/1998       OKS
11531
    Financial
        Prime   502160104        1,100   5/21/1998       OKS
11530
    Financial
        Prime   502160104        5,000   6/19/1998       OKS
11538
    Financial
        Prime   502160104       46,500    7/8/1998       OKS
11547
    Financial
        Prime   502160104       15,000    7/8/1998       OKS
11544
    Financial
        Prime   502160104        2,000    7/8/1998       OKS
11541
    Financial
        Prime   502160104       25,000    7/8/1998       OKS
11546
    Financial
        Prime   502160104       25,000    7/8/1998       OKS
11545
    Financial
        Prime   502160104       13,000    7/8/1998       OKS
11543
    Financial
        Prime   502160104       10,000    7/8/1998       OKS
11542
    Financial
        Prime   502160104       19,500   7/13/1998       OKS
11549
    Financial
        Prime   502160104       11,000   7/16/1998       OKS
11554
    Financial
        Prime   502160104       23,000   7/16/1998       OKS
11550
    Financial
        Prime   502160104       25,000   7/16/1998       OKS
11551
    Financial
        Prime   502160104       30,000   7/16/1998       OKS
11552
    Financial
        Prime   502160104        3,000   7/17/1998       OKS
11560
    Financial
        Prime   502160104        2,000   8/25/1998       OKS
11559
    Financial
        Prime   502160104        1,000   8/27/1998       OKS
11561
    Financial
        Prime   502160104          500    9/1/1998       OKS
11564
    Financial
        Prime   502160104          500    9/1/1998       OKS
11563
    Financial
        Prime   502160104       95,300    9/3/1998       OKS
11565
    Financial
        Prime   502160104       17,500   9/15/1998       OKS
11566
    Financial
        Prime   502160104        1,000   9/16/1998       OKS
11568
    Financial
        Prime   502160104        2,000   9/16/1998       OKS
11567
    Financial
        Prime   502160104        2,000   9/18/1998       OKS
11573
    Financial
        Prime   502160104        2,000   9/22/1998       OKS
11574
    Financial
        Prime   502160104        1,000   9/23/1998       OKS
11575
    Financial
        Prime   502160104      206,500   9/24/1998       OKS
11576
    Financial
        Prime   502160104        5,000   9/25/1998       OKS
11579
    Financial
        Prime   502160104        1,600   9/25/1998       OKS
11578
    Financial
        Prime   502160104       16,000   9/28/1998       OKS
11580
    Financial
        Prime   502160104       29,000   9/29/1998       OKS
11582
    Financial
        Prime   502160104       40,000   9/30/1998       OKS
11583
    Financial
        Prime   502160104        6,000   10/2/1998       OKS
11584
    Financial
        Prime   502160104        1,200   10/8/1998       OKS
11585
    Financial
        Prime   502160104        5,600  10/12/1998       OKS
11586
    Financial
        Prime   502160104        9,100  10/13/1998       OKS
11587
    Financial
        Prime   502160104          500  10/15/1998       OKS
11562
    Financial
        Prime   502160104        6,000  10/16/1998       OKS
11588
    Financial
        Prime   502160104       25,000  12/17/1998       OKS
11598
    Financial
        Prime   502160104        4,700  12/21/1998       OKS
11599
    Financial
        Prime   502160104       12,000  12/22/1998       OKS
11600
    Financial
        Prime   502160104        4,000  12/22/1998       OKS
11601
    Financial
        Prime   502160104       10,000  12/28/1998       OKS
11602
    Financial
        Prime   502160104        6,000  12/29/1998       OKS
11604
    Financial
        Prime   502160104       13,500  12/29/1998       OKS
11605
    Financial
        Prime   502160104        2,000  12/29/1998       OKS
11603
    Financial
        Prime   502160104        6,000    1/6/1999       OKS
11606
    Financial
        Prime   502160104        3,000   1/11/1999       OKS
11609
    Financial
        Prime   502160104       17,600   1/22/1999       OKS
11611
    Financial
        Prime   502160104        1,000   1/26/1999       OKS
11613
    Financial
        Prime   502160104        3,500   1/28/1999       OKS
11614
    Financial
        Prime   502160104          500    2/8/1999       OKS
11615
    Financial
        Prime   502160104        1,000    2/8/1999       OKS
11616
    Financial
        Prime   502160104        2,000   2/15/1999       OKS
11635
    Financial
        Prime   502160104       20,000   2/17/1999       OKS
11627
    Financial
        Prime   502160104        2,000   2/17/1999       OKS
11628
    Financial
        Prime   502160104        2,000   2/26/1999       OKS
11630
    Financial
        Prime   502160104          500   2/26/1999       OKS
11632
    Financial
        Prime   502160104        1,000   2/26/1999       OKS
11631
    Financial
        Prime   502160104        5,000    3/2/1999       OKS
11633
    Financial
        Prime   502160104        3,000    3/4/1999       OKS
11634
    Financial
        Prime   502160104        1,000   3/15/1999       OKS
11636
    Financial
        Prime   502160104        1,000   3/15/1999       OKS
11637
    Financial
        Prime   502160104        9,600   3/22/1999       OKS
11638
    Financial
        Prime   502160104        9,500    5/5/1999       OKS
11656
    Financial
        Prime   502160104        2,000    5/5/1999       OKS
11655
    Financial
        Prime   502160104        7,000   7/19/1999       OKS
11677
    Financial
                Total Shares 1,973,461
                    Owned by
                       Prime
                   Financial

                            EXHIBIT C
                               TO
                         AGREEMENT AMONG
           STILLWATER NATIONAL BANK AND TRUST COMPANY
                   PRIME FINANCIAL CORPORATION
                               AND
                         SBL CORPORATION
                    EFFECTIVE APRIL 21, 2000

SBL CORPORATION
Note:                #37516
Principal Amount:   $1,985,508.00
Note Date:          10-16-1997

AMY G. RAPPAPORT #J-1 TRUST
Note:                #37521
Principal Amount:   $73,908.00
Note Date:          10-16-1997

LORI R. RAPPAPORT #J-1 TRUST
Note:                #37519
Principal Amount:   $71,776.00
Note Date:          10-16-1997

STACY L. RAPPAPORT #J-1 TRUST
Note:                #37520
Principal Amount:   $71,776.00
Note Date:          10-16-1997

ADAM Z. GOLSON #J-1 TRUST
Note:                #37522
Principal Amount:   $71,776.00
Note Date:          10-16-1997

STEVEN J. GOLSEN 1992 TRUST
Note:                #37518
Principal Amount:   $139,680.00
Note Date:          10-16-1997

BARRY H. GOLSEN 1992 TRUST
Note:                #37524
Principal Amount:   $149,680.00
Note Date:          10-16-1997

SYLVIA H. GOLSEN 1992 TRUST
Note:                #37517
Principal Amount:   $140,532.00
Note Date:          10-16-1997

JOSHUA B. GOLSEN #J-1 TRUST
Note:                #37526
Principal Amount:   $73,908.00
Note Date:          10-16-1997

MICHELLE L. GOLSEN #J-1 TRUST
Note:                #37523
Principal Amount:   $71,776.00
Note Date:          10-16-1997

LINDA F. RAPPAPORT 1992 TRUST
Note:                #37525
Principal Amount:   $149,680.00
Note Date:          10-16-1997AGREEMENT

      THIS  AGREEMENT  (the "Agreement") made  and  entered  into
effective  the  21st  day  of April, 2000,  by  and  between  the
STILLWATER   NATIONAL  BANK  AND  TRUST  COMPANY  OF  STILLWATER,
OKLAHOMA, a National Banking Corporation (hereinafter "SNB"), SBL
CORPORATION,  an  Oklahoma Corporation  (hereinafter  "SBL")  and
PRIME FINANCIAL CORPORATION, an Oklahoma Corporation (hereinafter
"PRIME").

                      W I T N E S S E T H:

     WHEREAS, SNB and SBL CORPORATION (hereinafter "SBL") entered
into  a  Credit  Agreement (the Credit Agreement") effective  the
16th  day  of October, 1997, wherein and whereby BANK  agreed  to
extend   and  did  extend  credit  to  SBL  in  the   amount   of
$1,985,508.00 (the "Indebtedness"); and

      WHEREAS, the Credit Agreement contained a covenant  wherein
SBL  covenanted and agreed with SNB that the investment  property
granted  SNB  as  security for the payment  of  the  Indebtedness
would, during the term of the credit, maintain a market value  of
not  less than two (2) times the indebtedness or a value to  debt
ratio of 2:1; and

      WHEREAS, the Credit Agreement provided that a violation  of
any covenant, including the covenant that the investment property
granted  as security for the payment of the Indebtedness maintain
a  value  to  debt  ratio of 2:1, would constitute  an  event  of
default entitling SNB to declare the Indebtedness immediately due
and payable; and

     WHEREAS, SBL, the current guarantors of the Indebtedness and
PRIME   requested   SNB  not  to  declare  a  default   and,   in
consideration thereof PRIME agreed to execute and deliver to  SNB
its  guaranty  agreement wherein, in accordance with  its  terms,
PRIME  will  guaranty the payment of the Indebtedness and  secure
its  obligations under the guaranty agreement by granting  SNB  a
security  interest  in  all  shares  of  common  stock   in   LSB
INDUSTRIES,  INC. currently owned by PRIME with the liability  of
PRIME  under  the  guaranty agreement limited  as  set  forth  in
paragraph 5 hereof; and

      WHEREAS, SNB has agreed to accept the offer of PRIME  under
the  terms  and  conditions thereof and  the  parties  desire  to
memorialize their agreement as hereinafter set forth.

      NOW,  THEREFORE,  it is agreed by and between  the  parties
hereto as follows:

      1.   SNB  and  SBL agree that the value of  the  investment
property  in which SBL granted SNB a security interest to  secure
the payment of the Indebtedness does not have a current value  of
two  (2)  times the unpaid balance of its Indebtedness.  SNB  and
SBL  further agree that the failure to maintain the value to debt
ratio  of  2:1 constitutes an event of default under  the  Credit
Agreement   and   entitles  SNB  to  declare   the   Indebtedness
immediately due and payable.

      2.  SBL and PRIME requested SNB to waive and not to declare
a default and in consideration of SNB waiving and not declaring a
default,  PRIME  has offered to execute and deliver  to  SNB  its
guaranty  of payment of the indebtedness as limited by Section  5
below and as provided in the guaranty agreement (its "Guaranty" a
copy of which is annexed hereto as "Exhibit A") and to secure its
obligations  under  its  Guaranty  by  granting  SNB  a  security
interest  in all shares of common stock in LSB Industries,  Inc.,
currently  owned by PRIME ( its "Security Agreement"  a  copy  of
which  is  annexed  hereto as "Exhibit  B")  and  delivering  the
certificates representing the shares to SNB.

      3.  SNB has accepted the offer of PRIME and agrees that  on
receipt  of  the  executed Guaranty wherein PRIME guarantees  the
payment  of the Indebtedness and receipt of the executed Security
Agreement and receipt of all of the common stock of PRIME in  LSB
Industries currently owned by PRIME to SNB, to permanently waive,
for  the  duration of the Indebtedness, the value to  debt  ratio
requirement  contained in the Credit Agreement  and  any  default
resulting from SBL's failure to comply therewith.

      4.  PRIME agrees to furnish SNB such other documents as SNB
may reasonably request to perfect SNB'S security interest all  of
the common stock of PRIME in LSB Industries, Inc. currently owned
by PRIME.

      5.  The parties agree that the obligations of PRIME, in the
aggregate, under its Guaranty  and under other documents referred
to  herein  and under the Guarantees of Indebtedness relating  to
loans  by  SNB to those persons or entities listed on  Exhibit  C
shall  be limited to the value, from time to time, of the  common
stock  of LSB Industries, Inc., given SNB by PRIME to secure  its
obligations  under  its  Guaranty  and  the  Guarantees  of   the
Indebtedness  relating  to  loans to those  persons  or  entities
listed on Exhibit C.

      IN  WITNESS WHEREOF, we the undersigned have executed  this
Amendment  and  Modification Agreement the date  and  year  first
above written.

PRIME FINANCIAL CORPORATION,             STILLWATER NATIONAL BANK
                              AND
an Oklahoma Corporation                        TRUST  COMPANY  OF
                              STILLWATER,

OKLAHOMA

By                                                          By
                                                                ,
                              CHARLIE SMITH, Senior
                                           Vice-President

                                   SBL CORPORATION, an Oklahoma
                                   Corporation

                                   By
                                                  ,

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00010-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00010-of-00352.parquet"}]]