Document:

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                                                                    EXHIBIT 4.28

                             LOAN AGREEMENT 8/15/02

         LOAN AGREEMENT made effective as of the 15 day of August, 2002 by and
between WEIRTON STEEL CORPORATION, a Delaware corporation, with its principal
office at 400 Three Springs Drive, Weirton, West Virginia 26062 (the "Borrower")
and STEEL WORKS COMMUNITY FEDERAL CREDIT UNION, a federally charted credit
union, with its principal office located at 3501 Main Street, Weirton, West
Virginia, 26062 (the "Lender").

                              W I T N E S S E T H:

         WHEREAS, the Borrower has requested the Lender to loan it the sum of
Three Million One Hundred Thousand Dollars ($3,100,000.00) advanced or to be
advanced on a term loan basis, to provide it with the Loan (as hereinafter
defined), and the Lender is willing to do so upon the terms and conditions
hereinafter set forth.

         NOW, THEREFORE, subject to the terms and conditions of, and in reliance
upon the representations and warranties hereafter set forth in this Loan
Agreement and the Other Loan Documents (as hereinafter defined), and intending
to be legally bound, the parties hereto agree as follows:

SECTION I. DEFINITIONS

         As used herein, each of the following terms has the meaning set forth
below:

         AMORTIZATION TERM - A period equivalent to 20 years commencing on the
date of the Note over which the principal amount is to be amortized from time to
time (i) ratably by means of Quarterly Loan Payments through August 14th, 2014
and (ii) by means of the Balloon Payment.

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         APPLICABLE INTEREST RATE - The rate of interest (i) set forth in
Section 2.06 of the Loan Agreement and in the Note or (ii) established as the
Default Rate, as applicable under the circumstances.

         ASSIGNMENT - The Assignment of Leases and Rents relating to the
Mortgaged Premises dated the date hereof in the form set forth as Exhibit A to
the Loan Agreement.

         BALLOON PAYMENT - A final payment in respect of the Note to be made on
the Maturity Date of a sum sufficient to pay in full the entire outstanding
principal amount of the Note at the time, any amounts owing under any Other Loan
Document and all accrued interest thereon.

         BORROWER - Weirton Steel Corporation, a Delaware corporation, including
its successors and permitted assigns.

         BUSINESS DAY - Any weekday which is not a holiday for federal credit
unions in the State of West Virginia or on which they are otherwise required to
be closed.

         CLOSING - The time when the funds representing the Loan are disbursed
to the Borrower.

         COLLATERAL - All items of property comprising the (i) the Mortgaged
Premises, as more particularly described and included in the Deed of Trust; (ii)
all rentals arising from the Mortgaged Premises, as more particularly described
and included in the Assignment; (iii) the Equipment, as more particularly
described and included in the Equipment Security Agreement; and (iv) proceeds,
replacements, substitutions and/or improvements to any of the foregoing and any
other item of property given by the Borrower as, or which becomes, security for
the Obligations.

         CROSS DEFAULT INDEBTEDNESS AMOUNT The amount of indebtedness of the
Borrower to others the existence of an event of default under which is deemed to
be an event of default under

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the Principal Credit Facility, as such amount may be modified from time to time.
As of the date hereof, such amount is equal to $ 5.0 million.

         CROSS DEFAULT JUDGMENT AMOUNT - The amount of any judgment or award the
failure of which to be satisfied by the Borrower is deemed to be an event of
default under the Principal Credit Facility, as such amount may be modified from
time to time. As of the date hereof, such amount is equal to $ 5.0 million.

         DEED OF TRUST - The Deed of Trust relating to the Mortgaged Premises
dated the date hereof in the form set forth as Exhibit B to the Loan Agreement.

         DEFAULT RATE - A rate of interest equal to 300 basis points (three
percent (3%) per annum) in excess of the then Applicable Interest Rate born by
the Note, but not to exceed the highest rate permitted by law.

         ENVIRONMENTAL INDEMNITY - The Environmental Indemnity Agreement dated
the date hereof indemnifying the Lender from environmental claims and
liabilities related to the Mortgaged Premises in the form set forth as Exhibit C
to the Loan Agreement.

         EQUIPMENT SECURITY AGREEMENT - The Equipment Security Agreement dated
the date hereof under which the Lender is granted a security interest in and to
the Equipment in the form set forth as Exhibit D to the Loan Agreement.

         EQUIPMENT - The Borrower's railroad rolling stock identified in the
Equipment Security Agreement.

         ERISA - The Employee Retirement Income Security Act of 1974, as
amended, and any successor statute, and all rules and regulations from time to
time promulgated thereunder.

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         ESTOPPEL CERTIFICATE - The certificate dated the date hereof under
which WeBCo International, LLC is to subordinate its rights as lessee of its
leased portion of the Mortgaged Premises to the rights of the Lender under the
Deed of Trust.

         FINANCIAL STATEMENTS - The consolidated financial statements of the
Borrower and Subsidiaries previously delivered by Borrower to Lender specified
on Exhibit E to the Loan Agreement and to be delivered to Lender subsequent to
the Closing pursuant to 6.01 (B).

         GAAP - Generally accepted accounting principles in the United States of
America in effect from time to time.

         LATE CHARGE - A charge in an amount equal to three percent (3.0%) of
the delinquent amount of any scheduled Loan payment to be added to such payment
in the event it is late by 10 or more days.

         LENDER - Steel Works Community Federal Credit Union, including its
successors and permitted assigns.

         LOAN - The amount of indebtedness owed by the Borrower to the Lender
from time to time, initially $3.1 million advanced or to be advanced, as
evidenced by the amount of the Note outstanding, plus any advances made by the
Lender for the Borrower's account.

         LOAN AGREEMENT - This Loan Agreement between the Borrower and Lender,
including any subsequent amendment or modification hereto.

         LOAN DOCUMENTS - (i) the Loan Agreement; (ii) the Note; (iii) the Deed
of Trust; (iv) the Assignment; (v) the Estoppel Certificate; (vi) the Equipment
Security Agreement; (vii) the UCC Financing Statements (viii) the Environmental
Indemnity; (ix) the Owner Affidavits; and (x) any other documents given by the
Borrower to the Lender whether prior to or subsequent to the Closing in order to
evidence the making of the Loan or the providing of security therefor;

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provided, however, that the Financial Statements and publicly filed reports of
the Borrower shall not be Loan Documents. The foregoing Loan Documents (ii)
through (x) are sometimes referred to as the "Other Loan Documents."

         MATERIAL ADVERSE EFFECT - A material adverse effect on the business,
condition (financial or otherwise), operation, performance or properties of
Borrower and Subsidiaries, taken as a whole.

         MATURITY DATE - August 14th, 2014, or, if sooner, the date when the
remaining principal amount of the Note, together with accrued interest thereon,
becomes finally due and payable in accordance with the Loan Agreement as a
result of any declaration of acceleration or otherwise.

         MORTGAGE - The Deed of Trust

         MORTGAGED PREMISES - The land, buildings, fixtures, improvements and
other property of the Borrower comprising its General Office and Research and
Development Building and related grounds on Three Springs Drive, Weirton, WV
more particularly described in the Deed of Trust.

         MULTIEMPLOYER PLAN - A benefit plan having the meaning set forth in
Section 4001(a)(3) of ERISA.

         NOTE - The Promissory Note of the Borrower dated the date hereof
evidencing the Loan from the Lender to the Borrower in the form set forth as
Exhibit F to the Loan Agreement.

         OBLIGATIONS - The obligations of the Borrower under any of the Loan
Documents:

         (A) To pay the principal of, and interest on, the Note in accordance
with the terms thereof and to satisfy all of its other liabilities or
obligations to the Lender, whether hereunder or otherwise,

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whether now existing or hereafter incurred, matured or unmatured, direct or
contingent, joint or several, including any extensions, modifications, renewals
thereof, and substitutions therefor;

         (B) To repay to the Lender all amounts advanced by the Lender hereunder
or otherwise on behalf of the Borrower, including, but without limitation,
advances for principal or interest payments to prior secured parties,
mortgagees, or lienors, or for taxes, levies, insurance, rent, or repairs to, or
maintenance or storage of, any of the Collateral; and

         (C) To reimburse the Lender for all of the Lender's expenses and costs,
including the reasonable fees and expenses of its counsel, in connection with
the preparation, administration, amendment, modification, or enforcement of this
Loan Agreement and the documents required hereunder, including, without
limitation, any proceeding brought, or threatened, to enforce payment of any of
the obligations referred to in the foregoing paragraphs (A) and (B).

         PERMITTED LIENS - (i) Liens for taxes, assessments or governmental
charges not yet due, or being contested in good faith and by appropriate
proceedings in connection with which reasonable reserves are being maintained
therefor, but only if in the Lender's sole judgment such lien would not
reasonably be expected to adversely affect the Lender's rights or the priority
of the Lender's lien on any Collateral;

         (ii) Liens of mechanics, material men, warehousemen, carriers, or other
like liens, securing obligations incurred in the ordinary course of business
that are not yet due and payable;

         (iii) Reservations, covenants, zoning and other land use regulations,
title exceptions or utility easements granted in the ordinary course of business
of the Borrower and Subsidiaries affecting the Collateral; provided that such
matters do not in the aggregate materially interfere with the use of such
property in the ordinary course of Borrower's or such Subsidiary's business or
materially detract from the value of the Collateral taken as a whole; or

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         (iv) Liens in favor of the Lender.

         PLAN - An employee benefit plan now or hereafter maintained for
employees of the Borrower or any Subsidiary that is covered by Title IV of
ERISA.

         PRINCIPAL CREDIT FACILITY - The Amended and Restated Loan and Security
Agreement dated as of May 3, 2002 between the Borrower and certain lenders named
therein for whom Fleet Capital Corporation acts as Agent and any amendment,
renewal or replacement thereof for similar purposes, pursuant to which the
Borrower incurs indebtedness for money borrowed, whether on a secured basis or
otherwise, providing the Borrower with its principal source of working capital
debt financing.

         QUARTERLY LOAN PAYMENTS - Payments of principal and interest on the
Note to be made in accordance with its terms quarterly on September 30, 2002,
December 30, 2002, March 30, 2003 and June 30, 2003, and thereafter on each of
the same months and dates until the Maturity Date.

         SEC - The United States Securities and Exchange Commission and any
successor regulatory body.

         SUBSIDIARY - a corporation or other legal entity in which Borrower owns
at least a majority of the voting equity interests (or such other greater
interest if required) so as to be able to elect on a regular basis a majority of
the directors, trustees or other similar fiduciaries performing those functions.

         UCC FINANCING STATEMENTS - The Financing Statements to be filed under
the UCC to perfect security interests in favor of the Lender in certain of the
Collateral in the form set forth as Exhibit G to the Loan Agreement.

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         UCC - The Uniform Commercial Code as in effect in the State of West
Virginia.

SECTION II. THE LOAN

2.01 General Terms. Subject to the terms and conditions hereof, the Lender
agrees to make a Loan of up to $ 3.1 million of which $ 3.0 million shall be
advanced to the Borrower at Closing.

2.02 Disbursement of the Loan. The Lender will credit the proceeds of the Loan
to the Borrower's designated account at Fleet National Bank in immediately
available funds.

2.03 The Note. At the time of the making of the Loan, the Borrower will execute
and deliver the Note to the Lender.

2.04 Payments of Principal and Interest. It is the intention of the parties
that, absent any acceleration or prepayment in respect of the Note, the
principal amount of the Loan be repaid according to the Amortization Term.
Accordingly, until the Maturity Date, the Borrower shall make Quarterly Loan
Payments of principal in respect of the Note, each in the amount of Thirty-Eight
Thousand Seven Hundred and Fifty Dollars ($38,750.00), plus accrued interest on
each such payment calculated at the Applicable Interest Rate from the date of
last payment to and including the date of each such Quarterly Loan Payment. On
the Maturity Date, the Borrower shall make the Balloon Payment in respect of the
Note. Time shall be considered "of the essence" as to all Quarterly Loan
Payments and the Balloon Payment.

2.05 Prepayment. The Borrower may, without penalty or premium, prepay the
principal of the Note in whole or, from time to time, in part. All prepayments
of principal shall be applied in inverse order of maturity.

2.06 Interest Rate. Interest shall be charged on the outstanding principal
balance of the Loan at the rate of six and a quarter percent (6.25%) per annum
simple so long as no Event of Default exists in respect of payment on the Note
or any other monetary Obligation. During any existence

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and continuation of an Event of Default in respect of payment on the Note or any
other monetary Obligation, the Default Rate of interest shall be charged on the
outstanding principal balance of the Loan.

         Interest shall be payable in arrears on each Quarterly Loan Payment
date and on the Maturity Date calculated on a year of 365 actual days elapsed.

         It is the intention of the parties hereto to conform strictly to
applicable usury laws as in effect from time to time during the term of the
Loan. Accordingly, if any transaction or transactions contemplated hereby would
be usurious under applicable law (including the laws of the United States of
America or of any other jurisdiction whose laws may be applicable), then, in
that event, notwithstanding anything to the contrary in this Loan Agreement, or
any other agreement entered into in connection with this Loan Agreement, it is
agreed that the aggregate of all interest under applicable law that is
contracted for, charged or received under the Note, or under any of the other
aforesaid agreements or otherwise in connection with this Loan Agreement shall
under no circumstances exceed the maximum amount of interest allowed by
applicable law, and any excess shall be promptly credited to the Borrower by the
Lender (or, if such consideration shall have been paid in full, such excess
shall be promptly refunded to the Borrower by the Lender). Neither the Borrower
nor any person or entity now or hereafter liable in connection with this Loan
Agreement or on the Loan or Note shall be obligated to pay the amount of such
interest to the extent that it is in excess of the maximum interest permitted by
the applicable usury laws, and the effective rate of interest shall be ipso
facto reduced to the rate permitted as the highest lawful rate under applicable
law.

2.07 Payment to the Lender. All sums payable on the Note or otherwise to the
Lender hereunder shall be paid in immediately available funds to an account
designated by the Lender. The Lender

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shall send the Borrower periodic statements of all amounts due hereunder, which
statements shall be considered correct and conclusively binding on the Borrower
in the absence of manifest error, unless the Borrower notifies the Lender to the
contrary within thirty (30) days of its receipt of any statement that it deems
to be incorrect.

2.08 Late Charges. The Borrower will pay any applicable Late Charge due with
respect to delinquent payments in respect of the Note without further notice or
demand therefor, the amount of such charge being added to the amount of the
Quarterly Loan Payment or Balloon Payment.

SECTION III. CONDITIONS PRECEDENT

The obligation of the Lender to make the Loan is subject to the following
conditions precedent set forth under 3.01.

3.01 Documents Required for the Closing. The Borrower shall have delivered to
the Lender prior to or at the Closing the following:

         (A) The Loan Agreement duly executed by the Borrower;

         (B) The Note duly executed by the Borrower;

         (C) The Deed of Trust duly executed by the Borrower, which shall be in
proper form for filing in the office of the Clerk of Brooke County, West
Virginia;

         (D) The UCC Financing Statements (duly executed by the Borrower to the
extent Borrower is required by Lender to execute them), which shall be in proper
form for filing in the office of the Clerk of Brooke County, West Virginia and
of the Secretary of State of Delaware;

         (E) Copies of the resolutions of the board of directors of the Borrower
authorizing the execution, delivery and, performance of this Loan Agreement and
the Other Loan Documents certified as of the Closing date the form of which is
attached hereto as Exhibit H.

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         (F) Copies of the Restated Certificate of Incorporation and by-laws of
the Borrower certified as of the Closing date;

         (G) A certificate from the Secretary or an Assistant Secretary of the
Borrower dated as of the Closing date as to the incumbency and signatures of the
officers of the Borrower signing the Loan Documents;

         (H) Certificates, as of the most recent dates practicable, from the
Secretary of State of Delaware and the Secretary of State of West Virginia
certifying, respectively, as to the subsistence of the Borrower and its
qualification to do business as a foreign corporation;

         (I) A certificate, dated the date of the Closing, signed by the
president or a vice president of the Borrower and to the effect that:

                  (1) The representations and warranties set forth in Section
         5.01 of the Agreement are true as of the date of the Closing; and

                  (2) No Event of Default and no event which, with the giving of
         notice or passage of time or both, would be an Event of Default, has
         occurred as of such date.

         (J) A legal description and current ALTA survey of the Mortgaged
Premises from a registered land surveyor of the jurisdiction in which the
Mortgaged Premises is located, satisfactory in form and content to the Lender
and the insurer referred to in (K), clearly depicting the existing buildings,
encroachments, easements, right of ways, roads, alleys, ways, rivers, creeks,
streams, paths, setbacks, and other matters revealed by inspection and survey of
the property, if any, and clearly indicating all monuments and other control
relied upon by such surveyor, as well as any portion of the property which may
be covered by water;

         (K) A mortgagee title insurance policy with environmental endorsement
issued by an ALTA approved title insurance company reasonably satisfactory to
Lender covering the

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Mortgaged Premises in an amount not less than the amount of the Loan which said
title insurance shall insure a valid first lien in favor of the Lender on the
Mortgaged Premises covered by the Deed of Trust, subject only to those
exceptions acceptable to the Lender and its counsel;

         (L) An appraisal of the Mortgaged Premises and Equipment as of a recent
date from a certified commercial appraiser reasonably acceptable to the Lender
setting forth the fair market value of the Mortgaged Premises and Equipment and
otherwise in form and substance satisfactory to the Lender;

         (M) Opinions dated as of the Closing date from William R. Kiefer, Esq.,
General Counsel to the Borrower, and Spilman Thomas Law Offices, special counsel
to the Borrower, addressed to the Lender and in form and substance satisfactory
to the Lender and its counsel to the effect as set forth in Exhibit I to the
Loan Agreement;

         (N) The Estoppel Certificate executed by WeBco International, LLC; and

         (O) Evidence reasonably acceptable to the Lender that the insurance
policies required by section 6.01(C) are in effect at the Closing date.

3.02 Certain Events. At the time of, and as a further condition to, the Closing:

         (A) No Event of Default shall have occurred and be continuing, and no
event shall have occurred and be continuing that, with the giving of notice or
passage of time or both, would be an Event of Default;

         (B) No Material Adverse Effect shall have occurred since the date of
the Financial Statements last delivered to the Lender; and

         (C) All Loan Documents shall have remained in full force and effect.

3.03 Legal Matters. At the time of the Closing, all legal matters incidental
thereto shall be satisfactory to legal counsel to the Lender.

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SECTION IV. COLLATERAL

4.01 Nature of the Collateral. The Collateral shall stand as one general,
continuing collateral security for all Obligations and may be retained by the
Lender until all Obligations have been satisfied in full.

4.02 Security for the Loan. The Loan shall be secured by a first and best lien
on the Mortgaged Premises pursuant to the Deed of Trust and the Assignment and
by a security interest in the Equipment pursuant to the Equipment Security
Agreement and UCC Financing Statements.

4.03 Priority of Liens. The liens referred to in 4.02 shall constitute first and
prior liens on the Mortgaged Premises and first priority perfected security
interests on the Equipment, except for Permitted Liens.

4.04 Financing Statements.

         (A) The Borrower will:

                  (1) If requested by the Lender, join with the Lender in
         executing such financing statements (including amendments thereto and
         continuation statements thereof) in form satisfactory to the Lender as
         the Lender, from time to time, may specify;

                  (2) Pay, or reimburse the Lender for paying, all costs and
         taxes of filing or recording the same in such public offices as the
         Lender may designate; and

                  (3) Take such other steps as the Lender, from time to time,
         may direct, including the noting of the Lender's lien on the Collateral
         and on any certificates of title therefore, all to perfect to the
         satisfaction of the Lender the Lender's interest in the Collateral.

         (B) In addition to the foregoing, and not in limitation thereof:

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                  (1) A carbon, photographic, or other reproduction of this Loan
         Agreement shall be sufficient as a financing statement and may be filed
         in any appropriate office in lieu thereof; and

                  (2) To the extent lawful, the Borrower hereby appoints the
         Lender as its attorney-in-fact (without requiring the Lender to act as
         such) to execute any financing statement in the name of the Borrower
         and to perform all other acts that the Lender deems appropriate to
         perfect and continue its security interest in, and to protect and
         preserve, the Collateral.

SECTION V. REPRESENTATIONS AND WARRANTIES

5.01 Original. To induce the Lender to enter into this Loan Agreement, the
Borrower represents and warrants to the Lender as follows:

         (A) The Borrower is a corporation duly organized, validly existing, and
in good standing under the Laws of the State of Delaware, has the lawful power
to own its properties and to engage in the business it conducts and is duly
qualified and in good standing as a foreign corporation in the state of West
Virginia and all other jurisdictions wherein the nature of the business
transacted by it or property owned by it makes such qualification necessary or
otherwise where the failure to be so qualified would have a Material Adverse
Effect;

         (B) The Borrower is not directly or indirectly controlled by, or acting
on behalf of, any person which is an "Investment Company" within the meaning of
the Investment Company Act of 1940, as amended;

         (C) On the Closing date, the Borrower is not in default with respect to
any of its indebtedness for money borrowed outstanding ("Existing
Indebtedness"), and the execution, delivery and performance of this Loan
Agreement and the Other Loan Documents in accordance with their respective terms
will not (immediately or with the passage of time, the giving of

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notice, or both): (i) cause the Borrower to be in default with respect to any of
its Existing Indebtedness; (ii) violate the charter, by-laws or other
organizational documents of the Borrower or any Subsidiary; (iii) violate any
law, rule or regulation applicable to the Borrower or any Subsidiary; (iv)
result in a default under any contract, agreement, or instrument to which the
Borrower or any Subsidiary is a party or by which the Borrower or any Subsidiary
or its property is bound, in each case which default or violation in (i) - (iv)
could reasonably be expected to have a Material Adverse Effect; or (v) result in
the creation or imposition of any security interest in, or lien or encumbrance
upon, any of the assets of the Borrower or any Subsidiary, except in favor of
the Lender;

         (D) The Borrower has the corporate power and authority to enter into
and perform the Loan Documents and to incur the obligations therein provided for
and has taken all actions necessary to authorize the execution, delivery and
performance of the Loan Documents;

         (E) The Loan Documents are, or when delivered will be, valid, binding
and enforceable instruments on the part of the Borrower;

         (F) On the Closing date there is no pending order, notice, claim,
litigation, proceeding, or investigation against or affecting the Borrower or
any Subsidiary, whether or not covered by insurance, that if adversely
determined, could reasonably be expected to have a Material Adverse Effect;

         (G) The Borrower has good and marketable title to all Collateral, none
of which is subject to any security interest, encumbrance or lien, or claim of
any third person, except for Permitted Liens;

         (H) The Financial Statements, including any schedules and notes
pertaining thereto, heretofore delivered to the Lender were prepared in
accordance with GAAP and fairly presented

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the consolidated financial condition of the Borrower and Subsidiaries at the
date thereof and the consolidated results of operations for the periods covered
thereby, and from the latest date of such Financial Statements up to and
including the Closing date, the Borrower has suffered no Material Adverse
Effect;

         (I) The Borrower has not made any agreement or taken any action which
may cause anyone to become entitled to a commission or finder's fee as a result
of, or in connection with, the making of the Loan;

         (J) The Borrower's federal tax identification number is 06-1075442. As
of the Closing date, the Borrower and each Subsidiary have filed all federal,
state and local tax returns and other reports relating to taxes they are
required by law to file, and have paid, or made provision for the payment of,
all taxes, assessments, fees, levies and other governmental charges upon them,
their income and properties as and when such taxes, assessments, fees, levies
and charges are due and payable, unless and to the extent any thereof are being
actively contested in good faith and by appropriate proceedings and the Borrower
and each Subsidiary maintain reasonable reserves on their books therefor;

         (K) The Borrower and each Subsidiary are in compliance with the
requirements of ERISA and the regulations promulgated thereunder with respect to
each Plan as of the Closing date, except where the failure to so comply could
not reasonably be expected to have a Material Adverse Effect. No fact or
situation that reasonably could be expected to result in a Material Adverse
Effect exists as of the Closing date in connection with any Plan. Neither
Borrower nor any Subsidiary has participated in or has any withdrawal liability
in connection with a Multiemployer Plan; and

         (L) The Equipment is not used by the Borrower for purposes of
interstate commerce in

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the ordinary course of the Borrower's business.

5.02 Survival. All of the representations and warranties set forth in Section
5.01 shall survive until all Obligations are satisfied in full.

SECTION VI. COVENANTS OF THE BORROWER

6.01 Affirmative Covenants.

         (A) The Borrower will use the proceeds of the Loan only for business
purposes and will furnish the Lender such evidence as it may reasonably require
with respect to such use;

         (B) The Borrower will keep adequate records and books of account with
respect to its business activities in which proper entries are made in
accordance with customary accounting practices reflecting all its financial
transactions; and cause to be prepared and furnished to the Lender the
following:

                  (1) not later than 90 days after the close of each fiscal year
         of the Borrower audited Financial Statements of Borrower and
         Subsidiaries as of the end of such year, on a consolidated basis,
         certified by the Borrower's independent certified public accountants
         (who shall be of recognized standing selected by Borrower and
         reasonably acceptable to the Lender), all such Financial Statements to
         be prepared in accordance with GAAP applied on a consistent basis,
         unless the Borrower's certified public accountants concur in any change
         therein and such change is disclosed to the Lender and is consistent
         with GAAP, and, within a reasonable time thereafter, a copy of any
         management letter issued in connection therewith;

                  (2) not later than 45 days after the end of each fiscal
         quarter of the Borrower and commencing with the quarter ending
         September 30, 2002 (including the last

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         quarter of the Borrower's fiscal year), unaudited interim Financial
         Statements of Borrower and Subsidiaries as of the end of such quarter
         and of the portion of the fiscal year then elapsed, on a consolidated
         basis, certified by the principal financial officer of the Borrower as
         prepared in accordance with GAAP and fairly presenting in all material
         respects the financial position and results of operations of Borrower
         and Subsidiaries for such quarter and period, subject only to changes
         from audit and year-end adjustments and except that such statements
         need not contain notes;

                  (3) promptly after the sending or filing thereof, as the case
         may be, copies of any proxy statements, financial statements or reports
         which the Borrower has made available to its securities holders
         generally and copies of any regular, periodic and special reports or
         registration statements which the Borrower files with the SEC or any
         national securities exchange;

                  (4) upon request of the Lender, copies of any annual report to
         be filed in accordance with ERISA in connection with each Plan; and

                  (5) such other data and information (financial and otherwise)
         as the Lender, from time to time, may reasonably request, bearing upon
         or related to the Collateral or the Borrower's financial condition or
         results of operations.

                  (C) The Borrower shall maintain and pay for insurance upon the
         Collateral wherever located and with respect to the business of
         Borrower covering casualty, hazard, public liability, workers'
         compensation and such other risks in such amounts and with such
         insurance companies as are reasonably satisfactory to the Lender. The

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<PAGE>

         Borrower shall deliver certified copies of such policies to the Lender
         as promptly as practicable, with satisfactory lender's loss payable
         endorsements, naming the Lender as a loss payee, assignee or additional
         insured, as appropriate, as its interest may appear, and showing only
         such other loss payees, assignees and additional insureds as are
         satisfactory to the Lender. Each policy of insurance or endorsement
         shall contain a clause requiring the insurer to give not less than 10
         days' prior written notice to the Lender in the event of cancellation
         of the policy for nonpayment of premium and not less than 30 days'
         prior written notice to the Lender in the event of cancellation of the
         policy for any other reason and a clause specifying that the interest
         of the Lender shall not be impaired or invalidated by any act or
         neglect of the Borrower or with respect to the Mortgaged Premises by
         the occupation of the premises for purposes more hazardous than are
         permitted by said policy;

         (D) The Borrower and each Subsidiary will pay or cause to be paid when
due all taxes, assessments and charges imposed upon them or any of the
Collateral which they are required to pay, except when contested in good faith
by appropriate proceedings with adequate reserves therefor having been set aside
on their books; provided, however, that the Borrower and any such Subsidiary
shall pay or cause to be paid all such taxes, assessments and charges forthwith
whenever foreclosure on any lien that may have attached (or security therefor)
with respect to the Collateral appears imminent;

         (E) The Borrower will notify the Lender immediately if it becomes aware
of the occurrence of any Event of Default or of any fact, condition or event
that only with the giving of notice or passage of time or both would become an
Event of Default; (F) The Borrower shall keep and maintain the Mortgaged
Premises and the Equipment in material compliance with all

                                       19
<PAGE>

federal, state and local laws, regulations and ordinances now or hereafter in
effect relating to environmental conditions; and

         (G) The Borrower agrees to exercise the purchase option applicable to
its leased locomotives identified as numbers 317 and 318 not later than October
16, 2002, pay the applicable purchase price for such locomotives and acquire
title thereto. Upon such acquisition, the Borrower and Lender will amend the
Equipment Security Agreement to provide that such locomotives will become
Equipment and, in connection therewith, execute and deliver and cause to be
filed such additional documents as will provide to the Lender a perfected
security interest in such locomotives.

6.02 Negative Covenants. The Borrower does hereby covenant and agree with the
Lender that, so long as any of the Obligations remain unsatisfied or any
commitments hereunder remain outstanding, it will comply at all times with the
following negative covenants, unless the Lender shall otherwise have agreed in
writing:

         (A) Neither the Borrower nor any Subsidiary will sell, lease, transfer,
assign, or otherwise dispose of any of the Collateral, except that (i) portions
of the Mortgaged Premises from time to time may be leased by the Borrower or a
lessee pursuant to terms (including any accompanying waivers and estoppels) that
protect the Lender's first priority lien therein, and (ii) items of Equipment
which have become worn, obsolescent or unfit for their intended use in the
Borrower's reasonable business judgment may be replaced by the Borrower in the
ordinary course of its business, provided that all replacements become and
remain subject to the provisions of the Equipment Security Agreement and the
Lender's security interest granted thereunder.

                                       20
<PAGE>

SECTION VII. DEFAULT

7.01 Events of Default. The occurrence of any one or more of the following
events shall constitute an Event of Default hereunder:

         (A) The Borrower shall fail to pay when due any installment of
principal or interest on the Note or any charge or other fee payable hereunder,
and such failure shall continue for a period of ten (10) days;

         (B) The Borrower shall fail to observe or perform any other Obligation
to be observed or performed by it hereunder or under any of the Other Loan
Documents, and such failure shall continue for 30 days after (i) notice of such
failure from the Lender; or (ii) the Lender is notified of such failure or
should have been so notified pursuant to the provisions of Section 6.01(E),
whichever is earlier;

         (C) There shall occur any default or event of default on the part of
Borrower or any Subsidiary under any agreement, document or instrument to which
Borrower or such Subsidiary is a party or by which Borrower or such Subsidiary
or any of its property is bound, evidencing or relating to any indebtedness
(other than the Obligations) with an outstanding principal balance in excess of
Cross Default Indebtedness Amount, if the payment or maturity of such
indebtedness is or could be accelerated in consequence of such event of default
or demand for payment of such Indebtedness is made or could be made in
accordance with the terms thereof;

         (D) Any Financial Statement, representation, warranty, or certificate
made or furnished by, or with respect to, the Borrower or any Subsidiary to the
Lender in connection with this Loan Agreement, or as inducement to the Lender to
enter into this Loan Agreement, or in any separate statement or document to be
delivered to the Lender hereunder, shall prove to be materially false,
incorrect, or incomplete when made;

                                       21
<PAGE>

         (E) Proceedings in bankruptcy, or for reorganization of the Borrower or
any Subsidiary, or for the readjustment of any of their respective debts, under
the United States Bankruptcy Code, as amended, or any part thereof, or under any
other laws, whether state or federal, for the relief of debtors, now or
hereafter existing, shall be commenced against or by the Borrower or any
Subsidiary and, except with respect to any such proceedings instituted by the
Borrower or a Subsidiary, shall not be discharged within sixty (60) days of
their commencement;

         (F) A receiver or trustee shall be appointed for the Borrower or any
Subsidiary for any substantial part of their respective assets, or any
proceedings shall be instituted for the dissolution or the full or partial
liquidation of the Borrower or any Subsidiary and, except with respect to any
such appointments requested or instituted by the Borrower or a Subsidiary, such
receiver or trustee shall not be discharged within thirty (30) days of his
appointment, and, except with respect to any such proceedings instituted by the
Borrower or a Subsidiary, such proceedings shall not be discharged within sixty
(60) days of their commencement;

         (G) There shall occur a cessation of a substantial part of the business
of the Borrower or any Subsidiary for a period which materially and adversely
affects the ability of the Borrower and Subsidiaries' capacity, taken as a
whole, to continue their businesses on a profitable basis; the Borrower and
Subsidiaries shall be enjoined, restrained or in any way prevented by court,
governmental or administrative order from conducting all or any material part of
their business affairs taken as a whole; or any material portion of the
Collateral shall be taken through condemnation or the value of such property
shall be impaired through condemnation;

         (H) The Borrower or any Subsidiary shall suffer final judgments for
payment of money aggregating in excess of Cross Default Judgment Amount, in each
case in excess of any applicable insurance with respect to which the insurer has
admitted liability, and shall not

                                       22
<PAGE>

discharge the same within a period of thirty (30) days unless, pending further
proceedings, execution has not been commenced or, if commenced, has been
effectively stayed; or a judgment creditor of the Borrower shall obtain
possession of any material portion of the Collateral by any means, including
(without implied limitation) levy, distrait, replevin, or self-help; or

         (I) The Borrower shall fail to provide or maintain the required
insurance coverage on the Mortgaged Premises or the Equipment

7.02 Acceleration. Immediately and without notice upon the occurrence of an
Event of Default specified in the foregoing Sections 7.01(E) or (F), or at the
option of the Lender, but only upon notice to the Borrower, upon the occurrence
of any other Event of Default, all Obligations, whether hereunder or otherwise,
shall immediately become due and payable without further action of any kind.

7.03 Remedies. After any acceleration, as provided for in Section 7.02, the
Lender shall have, in addition to the rights and remedies given it by this Loan
Agreement and the Other Loan Documents, all those allowed by all applicable
laws, including, but without limitation, the Uniform Commercial Code as enacted
in any jurisdiction in which any Collateral may be located. Without limiting the
generality of the foregoing, the Lender may immediately, without demand of
performance and without other notice (except as specifically required by this
Loan Agreement, the Other Loan Documents or applicable law) or demand whatsoever
to the Borrower, all of which are hereby expressly waived, and without
advertisement, sell at public or private sale or otherwise realize upon, in
Brooke County, West Virginia, or in any other place where the Collateral may be
located, or in such other place or places as the Lender may designate, the whole
or, from time to time, any part of the Collateral, or any interest that the
Borrower may have therein. After deducting from the proceeds of sale or other
disposition of the

                                       23
<PAGE>

Collateral all expenses (including all reasonable expenses for legal services),
the Lender shall apply such proceeds toward the satisfaction of the Obligations.
Any remainder of the proceeds after satisfaction in full of the Obligations
shall be distributed as required by applicable law. Notice of any sale or other
disposition shall be given to the Borrower at least ten (10) days before the
time of any intended public sale or of the time after which any intended private
sale or other disposition of the Collateral is to be made, which the Borrower
hereby agrees shall be reasonable notice of such sale or other disposition. The
Borrower agrees to assemble, or to cause to be assembled, at its own expense,
the Collateral at such place or places, as the Lender shall designate. At any
such sale or other disposition, the Lender may, to the extent permissible under
applicable law, purchase the whole or any part of the Collateral, free from any
right of redemption on the part of the Borrower, which right is hereby waived
and released. Without limiting the generality of any of the rights and remedies
conferred upon the Lender under this paragraph, the Lender may, to the full
extent permitted by the applicable laws:

         (A) Enter upon the Mortgaged Premises (and, to the extent necessary in
the judgment of the Lender, exclude therefrom the Borrower any persons
affiliated with the Borrower) and any other premises where the Collateral is
located and take immediate possession of the Collateral, either personally or by
means of a receiver appointed by a court of competent jurisdiction;

         (B) At the Lender's option, use, operate, manage, and control the
Collateral in any lawful manner;

         (C) Collect and receive all rents, income, revenue, earnings, issues,
and profits from the Collateral; and

         (D) Maintain, repair, renovate, alter, or remove the Collateral as the
Lender may determine in its discretion.

                                       24
<PAGE>

7.04 Right of Set-Off. Upon the occurrence of any Event of Default, the Lender
may, and is hereby authorized by the Borrower, at any time and from time to
time, to the fullest extent permitted by applicable law, without advance notice
to the Borrower (any such notice being expressly waived by the Borrower),
set-off and apply any and all deposits (general or special, time or demand,
provisional or final) at any time held and any other indebtedness at any time
owing by the Lender to, or for the credit or the account of, the Borrower
against any or all of the Obligations of the Borrower now or hereafter existing,
whether or not such Obligations have matured and irrespective of whether the
Lender has exercised any other rights which it has or may have with respect to
such Obligations, including, without limitation, any acceleration rights. The
Lender agrees promptly to notify the Borrower after any such set-off and
application, provided that the failure to give such notice shall not affect the
validity of such set-off and application. The rights of the Lender under this
Section 7.04 are in addition to the other rights and remedies (including,
without limitation, other rights of set-off) that the Lender may have.

SECTION VIII. MISCELLANEOUS

8.01 Construction. The provisions of this Loan Agreement and the other Loan
Documents shall be in addition to those of any other evidence of liability of
the Borrower now or hereafter held by the Lender, all of which shall be
construed as complementary to each other. Nothing herein contained shall prevent
the Lender from enforcing any or all Loan Documents in accordance with their
respective terms.

8.02 Further Assurance. From time to time, the Borrower will execute and deliver
to the Lender such additional documents and will provide such additional
information as the Lender may reasonably require to carry out the terms of this
Loan Agreement and be informed of the status and affairs of the Borrower.
Notwithstanding the foregoing, if requested by the Lender, the

                                       25
<PAGE>

Borrower will fully cooperate and adjust for clerical errors any of the Loan
Documents, if deemed necessary or desirable in the reasonable discretion of the
Lender to sell, convey, seek guaranty or market the Loan to an entity, including
but not limited to an investor of the secondary market or as part of a
securitization. The Borrower will comply with all such requests within 14 days
of notice thereof from the Lender and pay, discharge and assume all out of
pocket costs and expenses therefor, including, by way of illustration and not
limitation, expenses for preparing documentation, filing fees and legal expenses
and disbursements in connection therewith and for failing to comply with
correction requests as required hereby.

8.03 Enforcement and Waiver by the Lender. The Lender shall have the right at
all times to enforce the provisions of this Loan Agreement and the Other Loan
Documents in strict accordance with the terms hereof and thereof,
notwithstanding any conduct or custom on the part of the Lender in refraining
from so doing at any time or times. The failure of the Lender at any time or
times to enforce its rights under such provisions, strictly in accordance with
the same, shall not be construed as having created a custom in any way or manner
contrary to specific provisions of this Loan Agreement or as having in any way
or manner modified or waived the same. All rights and remedies of the Lender are
cumulative and concurrent, and the exercise of one right or remedy shall not be
deemed a waiver or release of any other right or remedy.

8.04 Confidentiality. The Lender shall hold all nonpublic information obtained
pursuant to the requirements of this Loan Agreement in accordance with the
Lender's customary procedures for handling confidential information of this
nature and in accordance with safe and sound banking practices. The Lender may
make disclosure reasonably required by a prospective Participant (as hereinafter
defined) or assignee in connection with the contemplated participation or
assignment or as required or requested by any governmental authority or
representative thereof or pursuant

                                       26
<PAGE>

to legal process and shall require any such Participant or assignee to agree to
comply with this Section.

8.05 Expenses of the Lender. The Borrower will, on demand, reimburse the Lender
for all expenses, including the reasonable fees and expenses of legal counsel
for the Lender, incurred by the Lender in connection with the preparation,
administration, amendment, modification, or enforcement of this Loan Agreement
and the Other Loan Documents and the collection or attempted collection of the
Note.

8.06 Notices. Except as otherwise provided in this Loan Agreement, all notices
and requests hereunder shall be in writing and shall be deemed to have been duly
given for all purposes (i) when delivered if delivered in person or (ii) by
facsimile confirmed by written copy deposited in United States Mail or (iii) the
second day after deposit in the United States Mail when deposited in the United
States Mail, by registered or certified mail, return receipt requested, postage
prepaid, directed to the party to receive the same at its address stated above
or at such other address as may be substituted by notice given as herein
provided.

To Borrower:        Weirton Steel Corporation
                    400 Three Springs Drive
                    Weirton, WV 26062
                    Attn: Senior Vice President-Finance & Administration

                    With a copy to: General Counsel

                    Facsimile No. (304) 797-2991

To Lender:          Steel Works Community Federal Credit Union
                    3501 Main Street
                    Weirton, WV  26062
                    Attn: Commercial Loan Department

                    With a copy to: President

                    Facsimile No. (304) 797-9205

                                       27
<PAGE>

8.07 Waiver and Release by the Borrower. To the maximum extent permitted by
applicable law, the Borrower:

         (A) Waives (i) protest of all commercial paper at any time held by the
Lender on which the Borrower is in any way liable; (ii) except as the same may
be specifically provided by the Loan Documents, notice of acceleration or of
intention to accelerate; and (iii) notice and opportunity to be heard, after
acceleration in the manner provided in Section 7.02, before exercise by the
Lender of the remedies of setoff or of other summary procedures permitted by any
applicable law or by any agreement with the Borrower; and (iv) except where
required by the provisions of the Loan Documents or by any applicable law,
notice of any other action taken by the Lender; and

         (B) Releases the Lender and its officers, attorneys, agents and
employees from all claims for loss or damage caused by any act or omission on
the part of any of them, except for willful misconduct or gross negligence.

8.08 Participation. The Lender may grant participations in the Loan and any
other of its extensions of credit hereunder to any other lending institution (a
"Participant"), provided that (i) no such participation shall be for an amount
of less than $500,000 (ii) no Participant shall thereby acquire any direct
rights under this Loan Agreement, (iii) no Participant shall be granted any
right to consent to any amendment, except to the extent any of the same pertain
to (1) reducing the aggregate principal amount of, or interest rate on, or fees
applicable to the Loan or (2) extending the final stated maturity of the Loan
or the stated maturity of any portion of any payment of principal of, or
interest or fees applicable to, the Loan; provided, that the rights described
in this subclause (2) shall not be deemed to include the right to consent to
any amendment with respect to, or which has the effect of, requiring any
mandatory prepayment of

                                       28
<PAGE>

any portion of the Loan or any amendment or waiver of any Event of Default,
(iv) no sale of a participation shall in any manner relieve the Lender of its
obligations hereunder, (v) the Lender shall remain solely responsible for the
performance of such obligations, (vi) the Borrower and the Lender shall
continue to deal solely and directly with each other in connection with the
Lender's rights and obligations under this Loan Agreement and the other Loan
Documents, (vii) in no event shall any financial institution purchasing the
participation grant a further participation in its participation interest in
the Loan without the prior written consent of the Lender, and, in the absence
of an Event of Default, the Borrower, which consents shall not be withheld
unreasonably and (viii) all amounts payable by the Borrower hereunder shall be
determined as if the Lender had not sold any such participation.

8.09 Applicable Law. This Loan Agreement is entered into and performable in
Brooke County, West Virginia and shall be subject to, and construed and
enforced in accordance with, the laws of the State of West Virginia.

8.10 Binding Effect, Assignment, Entire Agreement and Amendment. This Agreement
shall inure to the benefit of, and shall be binding upon, the respective
successors and permitted assigns of the parties hereto. The Borrower has no
right to assign any of its rights or obligations hereunder without the prior
written consent of the Lender. The Lender may assign all its rights and interest
to the Loan as a whole without the prior consent of Borrower, provided that any
participation in the Loan must be in accordance with Section 8.08 of this Loan
Agreement. This Agreement and the Other Loan Documents, together with all other
instruments, agreements and certificates executed by the parties in connection
therewith or with reference thereto, constitute the entire agreement between the
parties. This Agreement may be amended only by a writing signed on behalf of
each party.

                                       29
<PAGE>

8.11 Severability. If any provision of this Agreement shall be held invalid
under any applicable law, such invalidity shall not affect any other provision
of this Agreement that can be given effect without the invalid provision, and,
to this end, the provisions hereof are severable.

8.12 Counterparts. This Agreement may be executed in any number of counterparts,
each of which, shall be deemed to be an original, but all of which together
shall constitute but one and the same instrument.

                                       30
<PAGE>

IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of
the day and year first above written.

ATTEST:                         WEIRTON STEEL CORPORATION

/s/William R. Kiefer            /s/ Mark E. Kaplan
By: William R. Kiefer           By: Mark E. Kaplan
Its: Secretary                  Its: Senior Vice President- Finance &
                                Administration

ATTEST:                         STEEL WORKS COMMUNITY FEDERAL CREDIT UNION

/s/John R. Thayer               /s/Richard Krauland
By:                             By: Richard Krauland
Its: Treasurer                        Its: President

                                       31
<PAGE>

STATE OF WEST VIRGINIA,

COUNTY OF Brooke To-Wit:

         I, Sandra L. (Tate) Lusk, a Notary Public, in and for the said County
and State, do certify that Mark E. Kaplan, Senior Vice President - Finance and
Administration and William R. Kiefer, Secretary, whose names are signed to the
writing above, bearing the date the 15th day of August, 2002, has this day
acknowledged the same before me in my said County.

         Given under my hand and certified under my official Notarial Seal this
15th day of August, 2002

                                         /s/Sandra L. (Tate) Lusk
                                         Notary Public

My Commission Expires Nov. 6, 2006

STATE OF Virginia,

City OF Virginia Beach To-Wit:

         I, Kristen R. Barchick, a Notary Public, in and for the said County and
State, do certify that Richard Krauland, President ,whose name is signed to the
writing above, bearing the date the 14th day of August, 2002, has this day
acknowledged the same before me in my said County.

         Given under my hand and certified under my official Notarial Seal this
14th day of August, 2002

                                         /s/ Kristen R. Barchick
                                         Notary Public
My Commission Expires  8/31/03<PAGE>

                                                                    EXHIBIT 4.29

                              DEED OF TRUST 8/15/02

        THIS DEED OF TRUST ("Deed of Trust") made effective as of the 15th day
of August, 2002, by and among Weirton Steel Corporation, a Delaware corporation
having its principal office at 400 Three Springs Drive, Weirton, West Virginia
26062 (the "Grantor")

                                       AND

GEORGE J. ANETAKIS, whose residence address is 232 Lakeview Drive, Weirton, West
Virginia, 26062, ("Trustee")

                                       AND

STEEL WORKS COMMUNITY FEDERAL CREDIT UNION, organized and existing under the
laws of the United States of America, having its principal place of business at
3501 Main Street, Weirton, West Virginia 26062. (hereinafter referred to as
"Lender")

                                   WITNESSETH

        WHEREAS, pursuant to that certain Loan Agreement dated of even date
herewith between Grantor and Lender (the "Loan Agreement"), Grantor has executed
and delivered to the Lender its Promissory Note (the "Note") of even date
herewith, wherein Grantor promises to pay to Lender the principal sum of Three
Million One Hundred Thousand Dollars ($3,100,000.00) advanced or to be advanced
(the "Loan"), in lawful money of the United States of America, advanced by
Lender to Grantor with interest thereon at a rate and at times, in the manner
and according to the terms and conditions specified in the Note; all of which
are incorporated herein by reference; and

        WHEREAS, Lender may make additional advances and disbursements pursuant
to the terms of the Loan Documents as hereafter defined, all of which advances
and disbursements are hereby acknowledged by Grantor as being payments by Lender
for fire and extended coverage insurance, taxes, assessments or other necessary
expenditures for the preservation and security of this Deed of Trust; and

                                       1
<PAGE>

        WHEREAS, all capitalized terms used but not otherwise defined in this
Deed of Trust shall have the meanings ascribed to such terms in the Loan
Agreement.

        NOW, THEREFORE, in consideration of the foregoing Preambles which are
hereby incorporated herein, and in consideration of the indebtedness evidenced
by the Note, and to secure the payment to Lender of the principal and interest,
and all other sums provided for in the Note, the Loan Agreement, this Deed of
Trust and the other Loan Documents, all according to their respective terms and
conditions, and to secure the performance and observance by Grantor of all
covenants and conditions contained in the Note, the Loan Agreement, this Deed of
Trust, and the other Loan Documents, and also to secure: (i) all future advances
and re-advances that may subsequently be made to Grantor by Lender, evidenced by
the aforesaid Note, or any replacement or renewal thereof; and (ii) the
Obligations and all other indebtedness or other obligations of Grantor to Lender
now or hereafter existing, whether direct or indirect (all of the foregoing are
collectively referred to as the "Grantor's Obligations"), Grantor has granted,
conveyed, bargained, sold, aliened, enfeoffed, released, confirmed and warranted
unto Trustee and by these presents does hereby grant, convey, bargain, sell,
alien, enfeoff, release, confirm and warrant unto Trustee and his successors and
assigns, IN TRUST, WITH POWER OF SALE, all that certain real estate described on
Exhibit A attached hereto and made a part hereof and the improvements (the
"Improvements") erected thereon,:

        (i)     and all buildings, streets, alleys, passages, ways, rights,
liberties, privileges, improvements, hereditaments and appurtenances thereto or
in any way appertaining thereto, and all easements, rights-of-way, licenses and
covenants now existing or hereafter created for the benefit of Grantor or any
subsequent owner whatsoever, at law or in equity, of Grantor in and to the
Mortgaged Premises or any part thereof

        (ii)    fixtures and appurtenances of whatsoever kind and nature now or
at any time hereafter in or on the Mortgaged Premises and in any Improvements
erected or situate thereon, it being mutually agreed that all the aforesaid
property owned or leased by the

                                       2
<PAGE>

Grantor including but not limited to the fixtures placed by them on the
Mortgaged Premises shall, so far as permitted by law, be deemed to be fixtures
and a part of the realty and security for the said indebtedness and covered by
this Mortgage, and

        All of the above mentioned real estate, buildings, improvements,
fixtures, tenements, hereditaments and appurtenances, and other property
interests are referred to herein as the "Mortgaged Premises"

        TO HAVE AND TO HOLD the Mortgaged Premises hereby granted or mentioned
or intended so to be, unto, its successors and assigns, to its own use forever.

        PROVIDED ALWAYS, that if Grantor shall promptly pay or perform all
Grantor's Obligations, then, without any further action by Grantor, Lender or
Trustee, the estate hereby granted shall cease, terminate and become void.
Lender agrees that upon full payment or performance of Grantor's Obligations,
Lender shall execute and issue to Grantor an appropriate release or satisfaction
of this Deed of Trust in a form appropriate for recording.

        AND Grantor HEREBY FURTHER COVENANTS AND AGREES AS FOLLOWS:

        1.      Warranty of Title. Grantor warrants that it currently possesses
an unencumbered fee simple title to the Mortgaged Premises, subject only to
those items listed on Schedule B, Section 2 to the title insurance policy
delivered to Lender ("Permitted Encumbrances"). Grantor further warrants that
this Deed of Trust creates a valid and enforceable first lien on the Mortgaged
Premises, subject only to Permitted Encumbrances. Until full payment and
performance of Grantor's Obligations, Grantor shall preserve such title and the
validity and priority of the lien hereof and shall forever warrant and defend
the same to Lender, its successors and assigns, against the claims of any
persons and parties whomsoever, in each case subject only to Permitted Liens (as
defined in Section 9 below).

        2.      Payment of Note. Grantor shall pay to Lender or any subsequent
holder of the Note the principal and interest accrued on the entire outstanding
principal

                                       3
<PAGE>

indebtedness due under the Note, including all sums now or hereafter due under
the terms hereof and of the Note, together with all interest thereon and all
other sums owing under the Note, punctually as and when the same shall become
due by the terms thereof and hereof.

        3.      Payment of Real Estate Taxes and/or Escrow for Payment of Taxes
and Payment of Other Charges.

        Grantor will cause to be paid, when due, all real estate taxes and all
charges for utilities on the Mortgaged Premises, whether public or private all
assessments, water and sewer rents and charges and all other license or permit
fees, levies, and governmental charges, general or special, ordinary or
extraordinary, foreseen or unforeseen of any kind and nature whatsoever, which
are or may have been, or any hereafter be, charged assessed, levied, confirmed
or imposed upon or against the Mortgaged Premises, or any part thereof by any
lawful authority, or which may become a lien thereon.

        Notwithstanding the foregoing, Grantor may in good faith contest, by
proper legal proceedings, the validity or amount of any such tax, fee, levy,
assessment or similar charge, provided (a) an uncured Event of Default (as
defined in Section 17 hereof) does not exist; (b) Grantor provides Lender
security satisfactory to Lender assuring the payment of such contested tax or
charge and any additional charge, penalty or expense which may arise from or be
incurred as a result of such contest; (c) such contest operates to suspend
collection and is maintained and prosecuted with diligence; and (d) upon final
resolution of such contest, including all appeals, Grantor shall pay such
contested tax or charge and all costs and penalties, if any, and shall deliver
to Lender proof of such payment.

        Subject to said right of Grantor to contest such tax or charge and the
expiration of any notice and grace period as provided in Section 17 without a
cure, nothing herein shall affect any right or remedy of Lender under this Deed
of Trust or otherwise to pay any tax or charge and to add the amount so paid to
the outstanding principal balance of the Note.

        If (i) Grantor fails to pay any such tax when due, (ii) if Grantor
suffers and Event of Default, or (iii) Borrower experiences a Material Adverse
Effect then upon 10 days prior

                                       4
<PAGE>

written request of Lender, Grantor agrees to the establishment of an escrow
reserve account with the Lender for the payment of all real estate taxes of any
kind and nature whatsoever, which are or may have been, or may hereafter be,
charges, assessed, levied, confirmed or imposed upon or against the Mortgaged
Premises, or any party thereof, by any lawful authority, or which may become a
lien thereon and further agrees that the quarterly installments due under the
Note secured by this Deed of Trust shall also include escrow payments equal to
one-fourth (1/4th) of the annual premiums for such real estate taxes in order to
permit payment of these obligations on or before their respective due dates.

        Grantor agrees to furnish to Lender real estate tax receipts for the
Mortgaged Premises which may attain priority over this Deed of Trust as a lien
on the Mortgages Premises.

        4.      Insurance. Grantor agrees to keep the Mortgaged Premises insured
at all times throughout the term of this Deed of Trust (including any period or
periods of time during which any Improvements are in the course of remodeling or
construction) and to furnish to Lender the following:

        (a)     Subject to a $ 100,000.00 deductible amount, policies of
insurance against loss or damage by fire, lightning, windstorm, hail, explosion,
vandalism, malicious mischief and damage from aircraft and vehicles, and smoke
damage from such other hazards as are presently included in standard "Extended
Coverage" endorsements in Brooke County, West Virginia. The amount of such
insurance shall equal the greater of 80% of the full replacement cost of the
buildings, structures, improvements and fixtures without deduction for
depreciation, or the original principal amount of this Deed of Trust. Such
policies shall contain a replacement value endorsement and may provide for
co-insurance only as Lender may approve.

        (b)     During the course of any construction of the Improvements,
Builder's completed value risk insurance against "all risks of physical loss",
in non-reporting form, covering the total value of work performed and equipment,
supplies and materials furnished

                                       5
<PAGE>

with respect to the Improvements. If required by Lender, any policy of such
insurance shall contain a "permission to occupy upon completion of work or
occupancy" endorsement.

        (c)     Flood hazard insurance in the maximum amount permitted by law or
evidence that the Mortgaged Premises are not located in a flood hazard area.

        (d)     Comprehensive public liability insurance against claims for
bodily injury or death and property damage occurring upon, in or about the
Mortgaged Premises to afford protection to the limit of not less than Three
Million Dollars ($3,000,000.00) per occurrence and Three Million Dollars in the
aggregate and such other insurances and coverages as are required under any
lease affecting the Mortgaged Premises.

        (e)     Worker's compensation insurance in amounts and coverages as
required by law, and public liability insurance for all contractors or employees
employed on or with respect to any of the Mortgaged Premises in an amount and
coverages as required by law, provided that Grantor is permitted to satisfy the
requirements of this Section 4(e) with self-insurance as permitted in accordance
with applicable West Virginia law.

        (f)     Such other insurance including Fire and Extended coverage
insurance on the Mortgaged Premises to the full replacement value thereof with
proceeds payable in accordance with this Deed of Trust, to include replacements
or substitutions therefore, or additions thereto, and in such amounts as may
from time to time be reasonably required by Lender against other insurable
hazards or casualties which at the time are commonly insured against in the case
of premises similarly situated.

        All insurance shall be subject to the approval of Lender as to insurance
companies, amounts, contents and form of policies and expiration dates, shall be
placed with companies having a Best's Financial Rating of "A-" or better and a
size class rating of XIV (14) or larger, and which are fully licensed in this
jurisdiction. All insurance policies shall contain a New York Standard or other
Standard Mortgage clause in favor of and satisfactory, to the Lender. Such
policies shall provide for the payment of all costs and expenses incurred by
Lender in the event of any contested claim and shall not be cancelled or
otherwise

                                       6
<PAGE>

terminated without at least fifteen (15) days' prior written notice to Lender.

        Grantor will deliver the originals of all such policies (or certificates
evidencing insurance if the policies are master policies) to Lender, and, within
twenty (20) days of receiving a renewal or replacement policy for each such
policy, will deliver to Lender a renewal policy or policies (or certificates
evidencing insurance if the policies are master policies) marked "premium paid"
or accompanied by other evidence of payment satisfactory to Lender. Grantor will
not permit any condition to exist on the Mortgaged Premises, which would wholly
or partially invalidate the insurance thereon.

        All proceeds of insurance from loss or damage or from condemnation and
similar takings referred to in Section 5 shall be deposited in an interest
bearing cash account established with the Lender that is pledged to Lender as
security for the Grantor's Obligations in a manner acceptable to Lender (a
"Pledged Account") for a period of up to 30 days pending resolution of its
application. If Grantor shall determine that it desires to repair, rebuild or
replace the Mortgaged Premises and the proceeds (together with the earnings on
such account and any other funds committed by Grantor for the purpose) are
sufficient in the reasonable judgment of Lender to permit Grantor to do so, such
proceeds and earnings shall remain in the Pledged Account and shall be released
to Grantor as required in order to permit the repair, rebuilding or replacement
of such property; provided, that if (i) an Event of Default is then in existence
or occurs during the period that such amounts are being held in the Pledged
Account or (ii) such proceeds and earnings are not used for the purpose of
repairing, rebuilding or replacing of such property prior to the expiration of
the Restoration Period, Lender shall have the right to (a) suspend Grantor's
right to access such proceeds and earnings in the Pledged Account and (b) apply
such amounts to the outstanding

                                       7
<PAGE>

principal balance of the Note. If Grantor shall determine not to repair, rebuild
or replace the Mortgaged Premises or Lender reasonably determines that such
proceeds (together with earnings on such account and any other funds committed
by Grantor for the purpose) are not sufficient to repair, rebuild or replace the
Mortgaged Premises, such amounts in the Pledged Account shall be applied to the
outstanding principal balance of the Note. For purposes hereof, the term
"Restoration Period" means the period beginning on the date that the proceeds of
insurance or condemnation, as applicable, are paid into the Pledged Account and
ending on the date, determined by Lender or its construction consultant, which
would allow Grantor a sufficient amount of time to complete such repair,
reconstruction or replacement if pursued diligently and continuously. Funds in
the Pledged Account shall be disbursed upon satisfaction of such reasonable
conditions as Lender may impose, including, without limitation, submission of
invoices or paid receipts, lien waivers and evidence that funds adequate for
completion of such repairs, reconstruction or replacement are available.
Anything in this Section 4 to the contrary notwithstanding, all proceeds of
condemnation and similar awards within the scope of Section 5 that arise from
the value of Land included in the Mortgaged Premises being taken without a
related or accompanying taking of Improvements, shall not be held in the Pledged
Account but shall be paid to the Lender and applied to reduce the outstanding
principal balance of the Loan. Grantor, as applicable, shall promptly comply
with and conform to (a) all provisions of each insurance policy and (b) all
requirements of the insurers thereunder, applicable to Grantor and any of the
Mortgaged Premises, or to the use, manner of use, occupancy, possession,
operation, maintenance, alteration or repair of any of the Mortgaged Premises,
even if such compliance necessitates structural changes or improvements or
results in interference with the use or

                                       8
<PAGE>

enjoyment of any of the Mortgaged Premises in any manner which would permit the
insurer to cancel any insurance policy. If Lender shall acquire title to the
Mortgaged Premises either by virtue of a deed in lieu of foreclosure, trustee
sale, or a judicial sale thereof pursuant to proceedings under the Note or this
Mortgage, then all of Grantor's estate, right, title and interest in and to all
such policies, insofar as they pertain to the mortgaged premises including
unearned premiums thereon, shall vest in Lender.

        If Grantor shall fail to procure, pay for and deliver to Lender any
policy or policies of insurance and/or renewals thereof as in this Section 4
required, Lender, at its option, but without obligation to do so, may procure
such insurance and pay the premiums therefore, and Grantor will repay to Lender
on demand any premiums so paid, with interest, and the same shall be secured by
this Deed of Trust.

        Grantor shall not take out separate insurance concurrent in form or
contributing in the event of loss with that required to be maintained under this
Section 4, unless Lender is included thereon as a additional insured with loss
payable to Lender under a standard endorsement. Grantor shall immediately notify
Lender whenever any such separate insurance is taken out, specifying the insurer
thereunder and full particulars as to the policies evidencing the same.

        Upon request by Lender, however not more than once a year, Grantor shall
furnish to Lender a report on each existing policy of insurance covering the
Mortgaged Premises showing: (a) the name of the insurer; (b) the risks insured;
(c) the amount of the policy; (d) the property insured, the then current
replacement value of such property, and the manner of determining that value;
and (e) the expiration date of the policy. Grantor shall, upon request of Lender
(not to exceed one request every five years), have an independent appraiser
satisfactory to Lender determine the cash value replacement cost of the
Property.

                                       9
<PAGE>

        5.      Condemnation. In the event of any condemnation or taking of any
part of the Mortgaged Premises by eminent domain, alteration of the grade of any
street, or other injury to or decrease in the value of the Mortgaged Premises by
any public or quasi-public authority or corporation or by settlement with any
body having the power of eminent domain, all proceeds (that is, the award or
agreed compensation for the damages sustained), shall be applicable first to the
alteration, restoration or rebuilding of any part of the Mortgaged Premises
which may have been altered, damaged or destroyed as a resulting of the taking,
alteration of or other injury to the Mortgaged Premises, provided that Lender's
security in the Mortgaged Premises is not materially and adversely affected, and
also subject to Lender's prior written consent, which consent shall not be
unreasonably withheld, delayed or conditioned, with the balance to be applied to
the indebtedness secured hereby. No settlement for the damages sustained shall
be made by Grantor without Lender's prior written approval, which shall not be
unreasonably withheld, delayed or conditioned.

        Notwithstanding the foregoing provisions, if Grantor fails to diligently
attempt to settle, or in the alternative, proceed to secure a final
determination or settlement for compensation, or if an Event of Default is
continuing hereunder, Lender shall have the right to prosecute to final
determination or settlement an appeal or other appropriate proceedings in the
name of Lender or Grantor, for which Lender is hereby appointed irrevocable as
attorney-in-fact for Grantor, which appointment, being for security is
irrevocable. In that event, the expenses of the proceedings, including
reasonable counsel fees, shall be paid first out of the proceeds, and only the
excess, if any, paid to Lender shall be credited against the amounts owing under
Grantor's Obligations.

        Nothing herein shall limit the rights otherwise available to Lender, at
law or in equity, including the right to intervene as a party in any
condemnation proceeding.

        6.      Additions, Alterations, Removals and Repairs. The Grantor shall
not make additions and alterations to the Mortgaged Premises without the prior
written consent of the Lender, which consent shall not be unreasonably withheld,
delayed or conditioned,

                                       10
<PAGE>

that would materially and adversely affect the value of the Mortgaged Premises
or Lender's security hereunder. All additions or alterations constituting part
of the Mortgaged Premises shall be subject to the lien of this Deed of Trust.

        Grantor shall not cause or permit any building, structure or improvement
or other property now or hereafter covered by the lien of this Deed of Trust and
comprising a part of the Mortgaged Premises (other than a de minimis part) to be
removed, or demolished in whole or in part, or any fixture comprising a part of
the Mortgaged Premises (other than a de minimis part) to be removed, severed or
destroyed, without the prior written consent of Lender. Notwithstanding the
foregoing, Grantor may remove any fixture, and it shall thereafter be free of
any security interest or lien created hereby, on condition that simultaneously
with, or prior to such removal, such fixture shall be replaced with other
property to perform the function of the fixture removed and of a value at least
equal to that of the replaced property and free from any title retention or
security agreement or other encumbrance. By such removal and replacement,
Grantor shall be deemed to have subjected such fixtures to the lien of this Deed
of Trust. Grantor will not abandon or cause or permit any waste to the Mortgaged
Premises.

        Throughout the term of this Deed of Trust, Grantor, at its sole cost and
expense, will take good care of the Mortgaged Premises and the sidewalks, curbs
and vaults, if any owned by the Grantor adjoining the Mortgaged Premises and
will keep the same in good order and condition, and make all necessary repairs
thereto, interior and exterior, structural and nonstructural, ordinary and
extraordinary, and unforeseen and foreseen. All repairs made by Grantor shall be
equal in quality and class to the original work. The necessity for and adequacy
of repairs to the buildings and improvements pursuant to this Section hereof
shall be measured by the standard which is appropriate for structures of similar
construction and class, provided that Grantor shall in any event make all
repairs necessary to avoid any structural damage or injury to the buildings and
improvements and to keep the buildings and improvements in a proper condition
for their intended uses.

                                       11
<PAGE>

        In case of any default under this Section, Lender may at its option
enter the Mortgaged Premises to protect, restore or repair any part thereof, but
shall be under no obligation to do so. Grantor will repay to Lender on demand
any sums paid by Lender to protect, restore or repair any part of the Mortgaged
Premises, with interest thereon, and, until repaid, such sums and interest shall
be added to the principal sum secured by this Deed of Trust.

        Throughout the term of this Deed of Trust, Grantor, at its sole cost and
expense, shall promptly cause the Mortgaged Premises to comply in all material
respects with all present and future laws, ordinances, rules, regulations, and
requirements of all federal, state and municipal governments, courts,
departments, commissions, boards and officers, and national or local Boards of
Fire Underwriters, or any other body exercising functions similar to those of
any of the foregoing, foreseen or unforeseen, ordinary as well as extraordinary,
which may be applicable to the Mortgaged Premises, the maintenance and use
thereof and the sidewalks, curbs and vaults adjoining the Mortgaged Premises,
whether or not such law, ordinance, order, rule, regulation or requirement shall
necessitate structural changes or improvements to the Mortgages Premises.
Grantor will comply with all orders and notices of violation thereof issued by
any governmental authority or shall contest the same in good faith. Grantor will
pay all license fees and similar municipal charges for the use of the Mortgaged
Premises.

        7.      Lender's Right to Remedy Defaults. In the event of Grantor's
failure to make all payments of insurance and taxes, or to keep the Mortgaged
Premises in the condition and repair required by Section 6 hereof, Lender may,
upon 10 days notice to Grantor, at its option, pay any or all such items,
together with penalties and interest thereon and procure and pay for such
insurance and repairs, and Lender may from time to time advance such additional
sum or sums as in its reasonable discretion may deem necessary to protect the
security of this Deed of Trust. All such sums upon notice from Lender shall be
paid or advanced by Lender shall immediately and without demand be repaid by
Grantor,

                                       12
<PAGE>

together with interest thereon at the rate specified in the Note and shall be
added to the principal indebtedness secured by this Deed of Trust.

        8.      Reports. Grantor shall furnish to Lender the reports and other
documents as may be required under Section 6.01 B of the Loan Agreement.

        9.      No Additional Secured Financing. Except for Permitted Liens,
Grantor shall not create or cause or permit to exist any lien on or security
interest in the Mortgaged Premises, including any fixtures which are intended to
be or become part of the Mortgaged Premises, and shall not incur any
indebtedness secured by the Mortgaged Premises other than the indebtedness
secured hereby and the liens heretofore approved by Lender.

        Grantor shall promptly discharge, at Grantor's cost and expense, all
liens, encumbrances and charges (other than Permitted Liens) upon the Mortgaged
Premises, or any part thereof or interest therein; provided, however, that
Grantor shall have the right to contest in good faith the validity of any such
lien, encumbrance or charge, if Grantor shall first deposit with Lender a bond
or other security satisfactory to Lender in such amounts as Lender shall
reasonably require, but not more than one hundred percent (100%) of the amount
of the claim, and provided further that Grantor shall thereafter diligently
proceed to cause such lien, encumbrance or charge to be removed and discharged.
If Grantor shall fail to discharge any such lien, encumbrance or charge, then in
addition to any other right or remedy of Lender, Grantor may, but shall not be
obligated to, discharge the same, either by paying the amount claimed to be due,
or by procuring the discharge of such lien by depositing in court a bond for the
amount claimed or otherwise giving security for such claim, or in such manner as
is or may be prescribed by law.

        Grantor shall have no right to permit the holder of any subordinate
mortgage or other subordinate lien, whether or not consented to by the Lender,
to terminate any Lease of all or a portion of the Mortgaged Premises whether or
not such Lease is subordinate (whether by law or the terms of such Lease or a
separate agreement) to the lien of this Deed of Trust without first obtaining
the prior written consent of Lender, such consent not to be

                                       13
<PAGE>

unreasonably withheld, conditioned or delayed. The holder of any subordinate
mortgage or other subordinate lien shall have no such right, whether by
trustee's sale or foreclosure of its mortgage or lien or otherwise, to terminate
any such lease, whether or not permitted to do so by Grantor or as a matter of
law, and any such attempt to terminate any such lease shall be ineffective and
void.

        No additional financing shall be permitted in connection with the
Improvements, which creates a lien or obligation against the Mortgaged Premises
or any portion thereof, or against the Grantor, without the Lender's prior
written consent and approval, except for: (i) Permitted Encumbrances, (ii)
Permitted Liens as defined in the Loan Agreement, and (iii) good-faith pledges
or deposits made in the ordinary course of business to secure performance of
bids, tenders or other contracts not involving the repayment of borrowed money
(all of the foregoing items collectively referred to as "Permitted Liens").

10.     Transfer of Title. Except as may otherwise be provided by this Deed of
Trust, any change, transfer, liquidation or diminishment of Grantor's ownership
of the Mortgaged Premises or any part thereof, or any interest or title therein,
legal or equitable, or any change in the ownership interest of the Grantor in
the Mortgaged Premises or any transfer of the benefits of the Loan, direct or
indirect, or any attempted change, transfer, liquidation or diminishment of
ownership or transfer to the benefits of the Loan without Lender's prior written
approval, including such conditions as may impose, shall, at the option of the
Lender, be an Event of Default and the Loan shall, at Lender's option, be deemed
to have matured in accordance with its terms, and the entire outstanding balance
of the Loan shall be immediately due and payable without further notice, and
shall be recoverable by Lender forthwith or at any time thereafter without stay
of execution or other process. In addition, Lender may, at its option, exercise
any other remedy available to it upon an Event of Default under this or any
other Loan Document. Any consent given by Lender under this Section 10 shall
pertain only to the proposed transfer of title for which the consent was
requested

                                       14
<PAGE>

and shall not obligate Lender to approve any further transfers or relieve any
person or entity of liability to pay any amount secured hereby or by any Loan
Document.

        It is expressly understood and agreed that Lender may condition its
consent to a transfer of the benefits of the Loan evidenced by the Note and
secured by this Deed of Trust upon the fulfillment of certain requirements
including, but not limited to, the following:

        (i)     that the proposed purchaser meet Lender's then-existing credit
and other standards with respect to similar loans,

        (ii)    that the proposed purchaser specifically assumes the obligations
to be performed under the obligation and this Deed of Trust,

        (iii)   that reasonable fees be paid to Lender at the time of transfer
of the type typically charged by lenders for similar transfers;

        (iv)    that the title insurance policy delivered to Lender be updated,
or if such update is not feasible, that a new policy of Lender's title insurance
be obtained,

        (v)     that new financing statements be filed,

        (vi)    that the proposed purchaser agrees to restrictions on further
transfers,

        (vii)   that endorsements to existing policies or new hazard and other
insurance policies be obtained, and

        (viii)  that the interest rate payable under the Note may be adjusted in
the sole discretion of the Lender.

        11.     INTENTIONALLY OMITTED.

        12.     Taxes. In the event of the passage after the date of this Deed
of Trust of any law of the State of West Virginia, or any other governmental
entity, changing in any way the laws now in force for the taxation of mortgages,
or debts secured thereby for state or local purposes, or the manner of the
operation of any such taxes, so as to affect the interest of the Lender, then
and in such event, Grantor shall bear and pay the full amount of such taxes.

        13.     INTENTIONALLY OMITTED.

                                       15
<PAGE>

        14.     Zoning and Environmental Laws. Grantor covenants and warrants
that all applicable zoning laws, ordinances and regulations affecting the
Mortgaged Premises permit the use and occupancy of the Improvements, and Grantor
further covenants and warrants to comply with all environmental and ecological
laws, ordinances and regulations affecting the Mortgaged Premises, except to the
extent that any non-compliance could not reasonably be expected to have a
material adverse effect on the Mortgaged Premises or cause an environmental lien
to be placed upon the Mortgaged Premises.

        15.     Inspection. Upon twenty-four hours prior notice (either written
notice or oral notice communicated to an appropriate individual representative
of Grantor), Lender and any persons authorized by Lender shall have the right to
enter the Mortgaged Premises at a reasonable hour to inspect and photograph its
condition and state of repair.

        16.     Advance by Lender. Upon the occurrence of an Event of Default
(or, in the case of an emergency threatening the Mortgaged Premises or Lender's
rights therein, the occurrence of an event which if uncured will constitute an
event of default with the passage of time), Lender may (but is not obligated to)
pay any sum or perform any other obligation necessary for the preservation of
the security of this Deed of Trust for the account of Grantor which Grantor has
failed to pay or perform, and sums spent by Lender shall be added to the
principal sum secured by this Deed of Trust.

        17.     Extension; Release of Security. The granting of an extension or
extensions of time by Lender with respect to the performance of any provision of
this Deed of Trust or the Note on the part of Grantor to be performed, or the
taking of any additional security, or the waiver by Lender or failure by Lender
to enforce any provision of this Deed of Trust or the Note or to declare a
default with respect thereto, shall not operate as a waiver of any subsequent
default or defaults or affect the right of Lender to exercise all rights or
remedies stipulated herein and therein.

        Lender, without notice, and without regard to the consideration, if any,
paid therefore, and notwithstanding the existence at that time of any inferior
liens thereon, may

                                       16
<PAGE>

release any part of the security described herein or any entity liable for any
indebtedness secured hereby without in any way affecting the priority of the
lien of this Deed of Trust to the full extent of the Grantor's Obligations
remaining unpaid hereunder upon any part of the security not expressly released
and may agree with any party obligated on the Grantor's Obligations or having
any interest in the security described herein to extend the time for payment of
any part or all of the indebtedness secured hereby. Such agreement shall not, in
any way, release or impair the lien hereof, but shall extend the lien hereof as
against the title of all parties having any interest in said security which
interest is subject to said lien.

        In the event Lender (a) releases, as aforesaid, any part of the security
described herein or (b) grants an extension of time on any payments of the
indebtedness secured hereby, or (c) takes other or additional security for the
payment thereof, or (d) waives or fails to exercise any right granted herein or
in the Note, said act or omission shall not release Grantor, subsequent
purchasers of the Mortgaged Premises or any part thereof, under any covenant of
this Deed of Trust or of the Note, nor preclude Lender from exercising any
right, power or privilege herein granted or intended to be granted in the event
of any other default then made or any subsequent default.

        18.     Events of Default. The occurrence and continuance of any of the
following shall, at the option of Lender, constitute an Event of Default
hereunder:

        (a)     If default shall be made in the timely payment of any sum
required to be paid under the terms of this Deed of Trust or the Note, when and
as the same shall become due and payable and such default shall have continued
uncured for ten (10) days following written notice from the Lender.

        (b)     If Grantor shall fail to observe or perform of any material
obligation under this Deed of Trust to be observed or performed by Grantor, and
such failure shall have continued for a period of thirty (30) days after written
notice specifying such default and demanding that the same be cured shall have
been given to Grantor by Lender, or if the default cannot reasonably be remedied
within such period, if Grantor fails to commence to

                                       17
<PAGE>

remedy the same within thirty (30) days and diligently thereafter to carry the
same to completion.

        (c)     The occurrence of an "Event of Default" under and as defined in
the Loan Agreement incorporated hereunder by reference thereto.

        (d)     A material Improvement essential to the continued operation of
the Mortgaged Premises is substantially damaged or destroyed by an uninsured
casualty and is not repaired or replaced by Grantor within 90 days of such
damage or destruction, or such longer period of time as is reasonably required
for such repair or replacement so long as Grantor diligently pursues such repair
or replacement.

        (e)     If in conjunction with any other Event of Default, any
continuing event of default under the terms of any Material Lease permitting the
tenant under such lease to terminate such lease. For purposes of this paragraph,
the term "Material Lease" means a lease on an arm's length basis with a term of
more than one year having an annualized rental income of not less than ten
percent (10%) of the appraised value of either of the buildings included in the
Mortgaged Premises.

        (f)     The failure by the Grantor to provide and maintain the required
insurance coverage on the Mortgaged Premises.

        19.     Remedies. During the continuance of an Event of Default, after
applicable notice and grace periods, if any, Lender may, at its option, without
further demand, notice or delay, do any or all of the following:

        (a)     Lender may declare the entire unpaid principal balance of the
Note to be due and payable immediately. Thereupon, said principal and all
accrued interest, and all other sums due hereunder and thereunder shall become
immediately due and payable. Thereafter, the Event of Default may be cured only
by the payment of the entire principal balance and all other sums due and
payable hereunder. Upon acceleration of the outstanding principal balance of the
Note, interest shall continue to accrue thereafter at a

                                       18
<PAGE>

rate equal to the then effective Default Rate set forth in the Note until the
Loan is paid in full.

        (b)     Lender may (i) institute and maintain an action of foreclosure
against the Mortgaged Premises or foreclose by exercise of the Trustee's power
of sale herein contained and/or as may otherwise be provided by West Virginia
statutory law permitting sales by a trustee in a deed of trust and thereafter a
deficiency action, if necessary, (ii) bid for and purchase the Mortgaged
Premises upon any such foreclosure sale, and upon compliance with the terms of
the sale, hold, retain and possess and dispose of the Mortgaged premises in its
own absolute right without further accountability, or (ii) take such other
action at law or in equity for the enforcement of any Loan Document as the law
may allow. Lender may proceed in any such action to final judgment and execution
thereon for all sums due under paragraph (a) of this Section, together with
interest on such sums as provided in the Note hereof, all costs of suit and a
reasonable attorney's fee. Interest at a rate equal to the Default Rate provided
in the Note shall be due on any judgment obtained by Lender from the date of
judgment until actual payment is made of the full amount of the judgment.

        Should Lender elect to foreclose by exercise of the power of sale herein
contained, Lender shall notify Trustee and shall deposit with Trustee this Deed
of Trust and the Note and such receipts and evidences of expenditures made and
secured hereby as Trustee may require.

        Upon application of Lender, it shall be lawful for and the duty of
Trustee, and he is hereby authorized and empowered, to expose to sale and to
sell the Mortgaged Premises at public auction for cash, after having first
complied with all applicable requirements of West Virginia law with respect to
the exercise of powers of sale by a Trustee contained in deeds of trust as are
then in effect and upon such sale, Trustee shall convey title to the purchaser
by Trustee's Deed. After retaining from the proceeds of such sale just
compensation for his services and all expenses incurred by him, including a
trustee's commission as may be

                                       19
<PAGE>

allowed by West Virginia Statute or law and reasonable attorneys' fees for legal
services actually performed, Trustee shall apply the residue of the proceeds as
provided in Section 19 hereof. Grantor agrees that in the event of sale
hereunder, Lender shall have the right to bid thereat. Trustee may require the
successful bidder at any sale to deposit immediately with Trustee cash or a
certified check in an amount not to exceed five percent (5%) of the bid,
provided notice of such requirement is contained in the advertisement of the
sale. The bid may be rejected if the deposit is not immediately made and
thereupon the next highest bidder may be declared to be the purchaser. Such
deposit shall be refunded in case a re-sale is had; otherwise, it shall be
applied to the purchase price. In the event any fixture is sold hereunder, it
need not be at the place of sale. The published notice, however, shall state the
time and place where such property may be inspected prior to sale. In the event
the Trustee shall commence any proceedings for the sale of the Mortgaged
Premises and such proceedings shall be terminated at the request of Grantor or
by reason of Grantor curing all defaults then existing hereunder, Trustee shall
be entitled to a trustee's commission as is provided under the West Virginia
Code. Notwithstanding anything to the contrary, Trustee is enpowered to conduct
and shall conduct the foreclosure proceedings in accordance with West Virginia
law then in effect, and said law shall control over any conflicting provision
herein contained and the provisions of this Deed of Trust shall be amended to
conform to applicable law to the extent necessary to permit foreclosure.

In connection with any foreclosure of the lien hereof or any action to enforce
any remedy of Lender under this Deed of Trust or the Note, Grantor agrees to pay
all reasonable expenditures and expenses which may be paid or incurred by or on
behalf of the Lender, as the case may be, for attorneys' fees, appraiser's fees,
outlays for documentary and expert evidence, stenographers' charges, publication
costs, and cost (which may be estimated as to items to be expended after entry
of the decree) of procuring all such title searches and examinations, title
insurance policies and similar data and assurances with respect to title and
value as Lender may deem reasonably necessary either to prosecute such suit or

                                       20
<PAGE>

foreclosure or to evidence to bidders at any sale which may be made the true
condition of the title to or the value of the Premises and the right to such
fees and expenses shall be deemed to have accrued on commencement of such action
and shall be enforceable whether or not such action is prosecuted to judgment.
All expenditures and expenses of the nature in this Paragraph mentioned, and
such expenses and fees as may be incurred in the protection of the Mortgaged
Premises and the maintenance of the lien of this Deed of Trust, including the
fees of any attorney employed by Lender in any litigation or proceeding
affecting this Deed of Trust, the Note or the Mortgaged Premises (including
without limitation the occupancy thereof or any construction work performed
thereon), including probate and bankruptcy proceedings, or in preparation for
the commencement or defense of any proceeding or threatened suit or proceeding
whether or not an action is actually commenced, shall be immediately due and
payable by Grantor, with interest thereon at the Default Rate as provided in the
Note and shall be secured by this Deed of Trust.

        Without limiting the liability of Grantor as set forth above, Grantor
shall indemnify Lender and hold it harmless from and against all claims, injury,
damage, loss and liability of any and every kind to any persons or property by
reason of (i) the operation or maintenance of the Mortgaged Premises by Grantor;
or (ii) any other action or inaction by, or matter which is the responsibility
of Grantor.

        (c)     Lender may, without releasing Grantor from any obligation under
any Loan Documents or waiving any default, enter upon and take possession of any
of the Mortgaged Premises, with or without legal action and by force if
necessary, and Grantor shall forthwith, upon demand of Lender, surrender the
Mortgaged Premises to Lender and Lender shall be entitled to take actual
possession of the Mortgaged Premises, or any part thereof, by its agents or
attorneys.

        (d)     Grantor hereby authorizes and empowers any attorney or attorneys
of any court of the several states or of the United States of America to appear
for Grantor and, as attorney for Grantor, to sign an agreement for entering an
amicable action of ejectment for

                                       21
<PAGE>

possession of any of the Mortgaged Premises. For so doing, this Deed of Trust or
a copy hereof certified by affidavit shall be a sufficient warrant. Thereupon, a
writ of possession may immediately issue for the possession of any of the
Mortgaged Premises, without any prior writ or proceeding whatsoever. Lender may
bring such amicable action in ejectment before or after: (i) the institution of
foreclosure proceedings under this Deed of Trust, (ii) the entry of judgment
hereunder or under the Note, or (iii) a Trustee's sale of any of the Mortgaged
Premises.

        (e)     Lender may apply on account of the indebtedness hereby secured
the balance of the accumulated escrow payments made by Grantor for insurance and
taxes.

        (f)     Marshalling of assets principles shall not govern any
foreclosure sale and the fee simple title, unencumbered by any leasehold, is to
be the asset sold at said foreclosure sale.

        20.     Application of Proceeds of Foreclosure Sale. Except as otherwise
provided by law, the proceeds of any foreclosure sale of the Mortgaged Premises
shall be distributed and applied in the following order of priority: First, on
account of all costs and expenses incident to the foreclosure proceedings,
including all such items as are mentioned in the preceding Section hereof;
second, all other items which under the terms hereof constitute Grantor's
Obligations additional to that evidenced by the Note, with interest thereon as
herein provided; third, all principal and interest remaining unpaid on the Note;
and fourth, any surplus to Grantor, its successors or assigns, as their rights
may appear.

        21.     Remedies Cumulative. Lender may exercise all of the rights and
remedies provided in this Deed of Trust or the Note, or which may be available
to Lender by law, and all such rights and remedies may be cumulative and
concurrent and may be pursued singly, successively or together, at Lender's sole
discretion, and may be exercised as often as occasion therefore shall occur. To
the extent permitted by law, any real estate sold pursuant to any judicial
proceedings under the Deed of Trust may be sold in one parcel, as

                                       22
<PAGE>

an entirety, or in such parcels, and in such manner or order as Lender, in its
sole discretion, may elect.

        Grantor does hereby waive the benefit of any and all laws presently
existing or which may be hereafter enacted pertaining to deficiency judgments,
or which may otherwise bar Lender from exercising the rights and remedies
granted herein provided, however, that the rights and remedies herein created
shall terminate and become null and void at such time as all amounts due to
Lender under the terms of the Note and this Deed of Trust have been paid in
full.

        22.     Assignment of Rents. As additional security hereunder, leases
and rents relating to the Mortgaged Premises have been assigned to the Lender
pursuant to the Assignment incorporated herein by reference thereto.

        23.     Waivers by Grantor. Grantor hereby waives and releases, to the
extent permitted by applicable law, (a) all technical errors, defects and
imperfections in any proceedings instituted by Lender under this Deed of Trust,
(b) all benefits that might accrue to Grantor by virtue of any present or future
laws exempting the Mortgaged Premises or any part of the proceeds arising from
any sale thereof, from attachment, levy or sale under execution, or providing
any stay of execution, exemption from civil process, extension of time for
payment, or rights of redemption, (c) notice of said sale by personal service,
(d) any present or future statute of limitation or moratorium law or any other
present or future law, regulation or judicial decision which provides for any
stay of execution, marshalling of assets, exemption from civil process,
redemption, extension of time for payment.

        24.     No Waiver Implied. Any failure by Lender to insist upon the
strict performances by Grantor of any of the terms, covenants, agreements,
conditions and provisions hereof shall not be deemed to be a waiver of any of
the terms, covenants, agreements; conditions and provisions hereof, and Lender,
notwithstanding any such failure, shall have the right thereafter to insist upon
the strict performance by Grantor of any and all of the terms, covenants,
agreements, conditions and provisions of this Deed of

                                       23
<PAGE>

Trust to be performed by Grantor. Neither Grantor nor any other persons now or
hereafter obliged for the payment of the whole or any part of the sums now or
hereafter secured by this Deed of Trust shall be relieved of such obligation by
reason of the failure of Lender to take action to foreclose this Deed of Trust
or otherwise enforce any of the provisions of this Deed of Trust or of any
obligations secured by this Deed of Trust, or by reason of the consent of the
Lender to the filing of any map, plat or replat of the Mortgaged Premises, or by
reason of the release, regardless of consideration of the whole or any part of
the security held for the indebtedness secured by this Deed of Trust, or by
reason of any agreement or stipulation between any subsequent owner or owners of
the Mortgaged Premises and Lender extending the time of payment or modifying the
terms of the Note or this Deed of Trust without first having obtained the
consent of Lender or such other person, and in the last event, Lender and all
such other persons shall continue liable to make such payments according to the
terms of any such agreement of extension or modification unless expressly
released and discharged in writing by Lender. For the payment of the
indebtedness secured hereby Lender may resort to any other security therefore
held by Lender in such order and manner as Lender may elect.

        25.     Trustee. The irrevocable power to appoint a substitute trustee
or trustees is hereby expressly granted to Lender, its successors or assigns, to
be exercised at any time hereafter, without notice and without specifying any
reason therefore, by filing for record in the office where this instrument is
recorded a Substitution of Trustee. Grantor, for itself, its successors and
assigns, and Trustee herein named, or that may be substituted hereunder,
expressly waives notice of the exercise of this power and any necessity for
making oath or giving bond by any trustee, as well as any requirement for
application to any court for the removal, appointment or substitution of any
trustee hereunder.

        26.     Trustee's Powers. The Trustee shall have such powers as are
authorized under applicable West Virginia statutes pertaining to Trustees' sales
under real estate deeds of trust.

                                       24
<PAGE>

        27.     Counsel Fees. If Lender retains the services of counsel in order
to cure any Event of Default under this Deed of Trust, reasonable attorney's
fees actually incurred shall be payable by Grantor to Lender and shall be
secured hereby. Grantor shall pay the cost of any necessary title search and all
other reasonable costs actually incurred by Lender in connection with
proceedings to recover any sums secured hereby. Grantor shall also pay any
reasonable charge of Lender in connection with the satisfaction of this Deed of
Trust of record.

        If Lender becomes a party to any suit or proceedings affecting the
Mortgaged Premises or title thereto, the lien created by this Deed of Trust or
Lender" interest therein, or following an event or events of default hereunder
if Lender engages counsel to collect any of the indebtedness or to enforce
performance of the agreements, conditions, covenants, provisions or stipulations
of this Deed of Trust or the Note, Lender's costs, expenses and reasonable
attorney's fees, whether or not suit is instituted, shall be paid to Lender by
Grantor, on demand, with interest at the effective rate set forth in the Note,
and until paid they shall be deemed to be part of the indebtedness evidenced by
the Note and secured by this Deed of Trust.

        28.     Declaration of No Set-Off. Grantor represents to Lender that it
has no knowledge of any offsets, counterclaims or defenses to the principal
indebtedness secured hereby, or to any part thereof, or the interest thereon,
either at law or in part thereof, or the interest thereon, either at law or in
equity. Up to two (2) times in any twelve month period, Grantor, within three
(3) days upon request in person or within ten (10) days upon request by mail,
will furnish a duly acknowledged written statement in form satisfactory to
Lender stating either that Grantor know of no offsets or defenses existing
against the indebtedness evidenced by the Note and secured by this Deed of
Trust, or if such offsets or defenses are alleged to exist, the nature and
extent thereof.

        29.     Representations and Warranties. Grantor represents and warrants
that: (a) Grantor has the requisite power and authority to execute this Deed of
Trust and perform

                                       25
<PAGE>

its obligations hereunder; (b) the transactions contemplated in this Deed of
Trust are and will be in all respects legal, valid, and binding obligations of
the respective parties hereto and in accordance with its provisions; (c) no part
of the Mortgaged Premises has been damaged by fire or other casualty which is
not now fully restored; and (d) no notice of taking by eminent domain or
condemnation of any of the Mortgaged Premises has been received, and Grantor has
no knowledge that any of the Mortgaged Premises has been received, and Grantor
has no knowledge that any of such is contemplated.

        30.     Invalid Provisions Disregarded. If any term or provision of this
Deed of Trust or the application thereof to any person or circumstances shall,
to any extent, be invalid or unenforceable, the remainder of this Deed of Trust,
or the application of such term or the provision to persons or circumstances
other than those as to which it is held invalid or unenforceable, shall not be
affected thereby, and each term and provision of this Deed of Trust shall be
valid and be enforced to the fullest extent permitted by law.

        31.     Applicable Law. This Deed of Trust, shall be construed,
interpreted and governed by the laws of the State of West Virginia.

        32.     Notices; Requests. All Notices and Requests shall be given to
Grantor at:

                and  Lender at

                WEIRTON STEEL CORPORATION
                400 THREE SPRINGS DRIVE
                WEIRTON, WV  26062
                ATTN: SENIOR VICE PRESIDENT-FINANCE AND ADMINISTRATION
                COPY TO GENERAL COUNSEL
                FACSIMILE NO. (304) 797-2991

                STEEL WORKS COMMUNITY FEDERAL CREDIT UNION
                3501 MAIN STREET
                WEIRTON, WV  26062
                ATTN:  COMMERCIAL LOAN DEPARTMENT
                COPY TO PRESIDENT
                FACSIMILE NO. (304) 797-9205

                                       26
<PAGE>

        Except as otherwise provided in this Deed of Trust, all notices and
requests hereunder shall be in writing and shall be deemed to have been duly
given for all purposes (i) when delivered if delivered in person or (ii) by
facsimile confirmed by written copy deposited in United States Mail or (iii) the
second day after deposit in the United States Mail when deposited in the United
States Mail, by registered or certified mail, return receipt requested, postage
prepaid, directed to the party to receive the same at its address stated above
or at such other address as may be substituted by notice given as herein
provided.

        33.     Captions. The captions appearing in this Deed of Trust are
inserted solely for convenience of reference and shall not constitute a part of
this Deed of Trust, nor shall they in any way affect its meaning, construction
or effect.

        34.     Construction. The word "Grantor", or "Lender" whenever used
herein is intended to and shall be construed to include such person's or
entity's successors and assigns.

        35.     No Future Advances or Refinancing. It is understood and agreed
that the Lender is under no obligation to make future advances, loans or
extensions of credit to the Grantor, except as is provided in the Loan
Agreement.

        36.     Usury. It is the intention of the parties hereto to conform
strictly to applicable usury laws as in effect from time to time during the term
of the Loan. Accordingly, if any transaction or transactions contemplated hereby
would be usurious under applicable law (including the laws of the United States
of America or of any other jurisdiction whose laws may be applicable), then, in
that event, notwithstanding anything to the contrary in this Deed of Trust, or
any other agreement entered into in connection with this Deed of Trust, it is
agreed that the aggregate of all interest under applicable law that is
contracted for, charged or received under the Note, or under any of the other
aforesaid agreements or otherwise in connection with this Deed of Trust shall
under no

                                       27
<PAGE>

circumstances exceed the maximum amount of interest allowed by applicable law,
and any excess shall be promptly credited to the Grantor by the Lender (or, if
such consideration shall have been paid in full, such excess shall be promptly
refunded to the Grantor by the Lender). Neither the Grantor nor any person or
entity now or hereafter liable in connection with this Deed of Trust, Loan
Agreement or on the Loan or Note shall be obligated to pay the amount of such
interest to the extent that it is in excess of the maximum interest permitted by
the applicable usury laws, and the effective rate of interest shall be ipso
facto reduced to the rate permitted as the highest lawful rate under applicable
law.

        37.     Subsidence and Physical Damage to Mortgaged Premises. In case of
any subsidence or the threat of subsidence of the surface of the Mortgaged
Premises, the Lender shall after reasonable notice and the failure of the
Grantor to remedy the same have the right to expend such sums as in its judgment
may be necessary or desirable to protect the Mortgaged Premises from damage by
reason thereof and to add the cost and expenses thereof to the unpaid balance of
the Loan, and all sums so expended shall bear interest at the interest rate set
forth in the Note, and all sums so expended or interest thereon shall be secured
hereby.

        38.     Further Assurances. At any time and from time to time, upon
Lender's request, Grantor shall make, execute and deliver or cause to be made,
executed and delivered to Lender and, where appropriate, shall cause to be
recorded or filed and from time to time thereafter to be re-recorded or refiled,
at such time and in such offices and places as shall be deemed desirable by
Lender, any and all further deeds of trust, mortgages, instruments of further
assurance, certificates and other documents as Lender may consider reasonably
necessary or desirable in order to effectuate, complete, enlarge in accordance
with the Loan Security Documents or perfect, continue and preserve the
obligations of Grantor under the Note and this Deed of Trust or any other Loan
Documents,

                                       28
<PAGE>

and the lien of this Deed of Trust as a prior lien upon all of the Mortgaged
Premises, whether now owned or hereafter acquired by Grantor. Upon any failure
by Grantor to do so, Lender may make, execute, record, file, re-record or refile
any and all such deeds of trusts, mortgages, instruments, financing statements,
certificates and documents for and in the name of Grantor, and Grantor hereby
irrevocably appoint Lender the agent and Attorney in Fact of Grantor to do so.

IN WITNESS WHEREOF, Grantor has executed these presents the day and year first
above written.

Attest:                                  Weirton Steel Corporation

By: /s/ William R. Kiefer                By: /s/Mark E. Kaplan
Name: William R. Kiefer                  Name: Mark E. Kaplan
Title: Secretary                         Title: Senior Vice President - Finance
                                                and Administration

                                       29
<PAGE>

STATE OF WEST VIRGINIA,

COUNTY OF Brooke To-Wit:

        I, Sandra L. (Tate) Lusk, a Notary Public, in and for the said County
and State, do certify that Mark E. Kaplan, Senior Vice President - Finance and
Administration and William R. Kiefer, Secretary, respectively, whose names are
signed to the writing above, bearing the date, the 15th day of August, 2002, has
this day acknowledged the same before me in my said County.

        Given under my hand and certified under my official Notarial Seal this
15th day of August, 2002

                                                  /s/Sandra L. (Tate) Lusk
                                                  Notary Public

My Commission Expires

Nov. 6, 2006

                                       30

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