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TRAMMELL DIRECTIONAL BORING, INC.                                THE FIRST NATIONAL BANK OF SPRINGDALE
___1 BOX 523                                                     100 WEST EMMA - BOX 249
___INS, AR 72727                                                 SPRINGDALE, AR 72765

             DEBTOR'S NAME, ADDRESS AND SSN OR TIN                             SECURED PARTY'S NAME AND ADDRESS
              ("I" means each Debtor who signs.)                  ("You" means the Secured Party, its successors and assigns)
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I am entering into this security agreement with you on DECEMBER 29, 2000 (date).
                                                       -----------------

SECURED DEBTS.  I agree that this security  agreement  will secure the payment
     and  performance of the debts,  liabilities or obligations
     described below that (Check one) |X| | |_| (name)
                                                       ------------------------
                                owe(s) to you now or in the future:
     --------------------------
     (Check one below)

         |_|  Specific Debt(s). The debt(s), liability or obligations evidenced
              by (describe):
                             ---------------------------------------------------
              and all extensions, renewals, refinancings, modifications and
              replacements of the debt, liability or obligation.

         |X|  All Debt(s). Except in those cases listed in the "LIMITATIONS"
              paragraph on page 2, each and every debt, liability and obligation
              of every type and description (whether such debt, liability or
              obligation now exists or is incurred or created in the future and
              whether it is or may be direct or indirect, due or become due,
              absolute or contingent, primary or secondary, liquidated or
              unliquidated, or joint, several or joint and several).

Security Interest. To secure the payment and performance of the above described
     Secured Debts, liabilities and obligations, I give you a security interest
     in all of the property described below that I now own and that I may own in
     the future (including, but not limited to, all parts, accessories, repairs,
     improvements, and accessions to the property), wherever the property is or
     may be located, and all proceeds and products from the property.

     |_| Inventory: All inventory which I hold for ultimate sale or lease, or
         which has been or will be supplied under contracts of service, or which
         are raw materials, work in process, or materials used or consumed in my
         business.

     |X| Equipment: All equipment including, but not limited to, all machinery,
         vehicles furniture, fixtures, manufacturing equipment, farm machinery
         and equipment, shop equipment, office and recordkeeping equipment, and
         parts and tools. All equipment described in all list or schedule which
         I give to you will also be included in the secured property, but such a
         list is not necessary for a valid security interest in my equipment.

     |_| Farm Products.  A;; farm products including, but not limited to:

         (a) all poultry and livestock and their young, along with their
             products, produce and replacements;

         (b) all crops, annual or perennial, and all products of the crops; and

         (c) all feed, seed, fertilizer, medicines, and other supplies used or
             produced in my farming operations.

     |_| Accounts, Instruments, Documents, Chattel Paper and Other Rights to
         Payment: All rights I have now and that I may have in the future to the
         payment of money including, but not limited to:

         (a) payment for goods and other property sold or leased or for services
             rendered, whether or not I have earned such payment by performance;
             and

         (b) rights to payments arising out of all present and future debt
             instruments, chattel paper and loans and obligations receivable.

         The above include any rights and interests (including all liens and
         security interests) which I may have by law or agreement against any
         account debtor or obligor of mine.

     |_| General Intangibles: All general intangibles including, but not limited
         to, tax refunds, applications for patents, patents, copyrights,
         trademarks, trade secrets, good will, trade names, customer lists,
         permits and franchises, and the right to use my name.

     |_| Government Payments and Programs: All payments, accounts, general
         intangibles, or other benefits (including, but not limited to, payments
         in kind, deficiency payments, letters of entitlement, warehouse
         receipts, storage payments, emergency assistance payments, diversion
         payments, and conservation reserve payments) in which I now have and in
         the future may have any rights or interest and which arise under or as
         a result of any pre-existing, current or future Federal or state
         governmental program (including, but not limited to, all programs
         administered by the Commodity Credit Corporation and the ASCS).

     |X| The secured property includes, but is not limited by, the following:
         NOTE IN THE AMOUNT OF $110,141.66

If this agreement covers timber to be cut, minerals (including oil and gas),
fixtures or crops growing or to be grown, the legal description is:

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--------------------------------------------------------------------- --------------------------------------------------------------
I am a(n)  |_| individual   |_| partnership  |X| corporation          I AGREE TO THE TERMS SET OUT ON BOTH PAGE 1 AND 2 OF THIS
                                                                      AGREEMENT. I have received a copy of this document on today's
      |_|   ___________________________________________________       date.

|_|  If checked, file this agreement in the real estate records.
Record Owner (if not
me):____________________________________________________________
________________________________________________________________
________________________________________________________________.     TRAMMELL DIRECTIONAL BROING, INC.
                                                                      -------------------------------------------------------------
                                                                               (Debtor's Name)
This property will be used for      |_|  personal   |X|  business
         |_|  agricultural   |_| _____________________   reasons.
                                                                      By:  /s/ Lisa A. Trammell
                                                                          ---------------------------------------------------------
THE FIRST NATIONAL BANK OF SPRINGDALE                                         LISA A. TRAMMELL
-----------------------------------------------------------------
                  (Secured Party's Name)
                                                                      Title:  PRES/SEC
                                                                              ------------------------------------------------------
By:
    -------------------------------------------------------------
        MICHAEL HUGHES                                                By:
                                                                          ----------------------------------------------------------
Title:   VICE PRESIDENT                                               Title:
        ---------------------------------------------------------           --------------------------------------------------------
</TABLE>

(C) 1986, 1990 Bankers Systems, Inc.,                              (page 1 of 2)
    St. Cloud, MN (1-800-397-2341)
    Security Agreement Form SA-AR 7/3/97
51070

<PAGE>

GENERALLY - "You" means the Secured Party identified on page 1 of this
agreement. "I," "me" and "my" means each person who signs this security
agreement as Debtor and who agrees to give the property described in this
agreement as security for the Secured Debts. All terms and duties under this
agreement are joint and individual. No modification of this security agreement
is effective unless made in writing and signed by you and me. This security
agreement remains in effect, even if the note is paid and I owe no other debt to
you, until discharged in writing. Time is of the essence in this agreement.

APPLICABLE LAW - I agree that this security agreement will be
governed by the law of the state in which you are located. If property described
in this agreement is located in another state, this agreement may also, in some
circumstances, be governed by the law of the state in which the property is
located.
         To the extent permitted by law, the terms of this agreement may vary
applicable law. If any provision of applicable law may not be varied by
agreement, any provision of this agreement that does not comply with that law
will not be effective. If any provision of this agreement cannot be enforced
according to its terms, this fact will not affect the enforceability of the
remainder of this agreement.

OWNERSHIP AND DUTIES TOWARD PROPERTY - I represent that I own all of the
property, or to the extent this is a purchase money security interest I will
acquire ownership of the property with the proceeds of the loan. I will defend
it against any other claim. Your claim to the property is ahead of the claims of
any other creditor. I agree to do whatever you require to protect your security
interest and to keep your claim in the property ahead of the claims of other
creditors. I will not do anything to harm your position.

         I will keep books, records and accounts about the property and my
business in general. I will let you examine these records at any reasonable
time. I will prepare any report or accounting you request, which deals with the
property.

         I will keep the property in my possession and will keep it in good
repair and use it only for the purpose(s) described on page 1 of this agreement.
I will not change this specified use without your express written permission. I
represent that I am the original owner of the property and, if I am not, that I
have provided you with a list of prior owners of the property.

         I will keep the property at my address listed on page 1 of this
agreement, unless we agree I may keep it at another location. If the property is
to be used in another state, I will give you a list of those states, I will not
try to sell the property unless it is inventory or I receive your written
permission to do so. If I sell the property I will have the payment made payable
to the order of you and me.

         You may demand immediate payment of the debt(s) if the debtor is not a
natural person and without your prior written consent (1) a beneficial interest
in the debtor is sold or transferred or (2) there is a change in either the
identity or number of members of a partnership or (3) there is a change in
ownership of more than 25 percent of the voting stock of a corporation.

         I will pay all taxes and charges on the property as they become due.
You have the right of reasonable access in order to inspect the property. I will
immediately inform you of any loss or damage to the property.

LIMITATIONS - This agreement will not secure a debt described in the section
entitled "Secured Debts" on page 1:

         1)   if you fail to make any disclosure of the existence of this
              security interest required by law for such other debt;

         2)   if this security interest is in my principal dwelling and you fail
              to provide (to all persons entitled) any notice of right of
              rescission required by law for such other debt;

         3)   to the extent that this security interest is in "household goods"
              and the other debt to be secured in a "consumer" loan (as those
              terms are defined in applicable federal regulations governing
              unfair and deceptive credit practices);

         4)   if this security interest is in margin stock subject to the
              requirements of 12 C.F.R. Section 207 or 221 and you do not obtain
              a statement of purpose if required under these regulations with
              respect to that debt; or

         5)   if this security interest is unenforceable by law with respect to
              that debt.

PURCHASE MONEY SECURITY INTEREST - For the sole purpose of determining the
extent of a purchase money security interest arising under this security
agreement: (a) payments on any non-purchase money loan also secured by this
agreement will not be deemed to apply to the purchase money loan, and (b)
payments on the will be deemed to apply first to the non-purchase money portion
of the loan, if any, and then to the purchase money obligations in the order in
which the items of collateral were acquired or if acquired at the same time, in
the order selected by you. No security interest will be terminated by
application of this formula. "Purchase money loan" means any loan the proceeds
of which, in whole or in part, are used to acquire any collateral securing the
loan and all extensions, renewals, consolidations and refinancings of such loan.

AUTHORITY OF SECURED PARTY TO MAKE ADVANCES AND PERFORM FOR DEBTOR - I agree to
pay you on demand any sums you advanced on my behalf including, but not limited
to, expenses incurred in collecting, insuring, conserving, or protecting the
property or in any inventories, audits, inspections or other examinations by you
in respect to the property. If I fail to pay such sums, you may do so for me,
adding the amount paid to the other amounts secured by this agreement. All such
sums will be due on demand and will bear interest at the highest rate provided
in any agreement, note or other instrument evidencing the Secured Debt(s) and
permitted by law at the time of the advance.

         If I fail to perform any of my duties under this security agreement, or
any mortgage, deed of trust, lien or other security interest, you may without
notice to me perform the duties or cause them to be performed. I understand that
this authorization includes, but is not limited to, permission to: (1) prepare,
file, and sign my name to any necessary reports or accountings; (2) notify any
account debtor of your interest in this property and tell the account debtor to
make the payments to you or someone else you name, rather than me; (3) place on
any chattel paper a note indicating your interest in the property; (4) in my
name, demand, collect, receive and give a receipt for, compromise, settle, and
handle any suits or other proceedings involving the collateral; (5) take any
action you feel is necessary in order to realize on the collateral, including
performing any part of a contract or endorsing it in my name; and (6) make an
entry on my books and records showing the existence of the security agreement.
Your right to perform for me shall not create an obligation to perform and your
failure to perform will not preclude you from exercising any of your other
rights under the law or this security agreement.

INSURANCE - I agree to buy insurance on the property against the risks of loss
or damage and for the amounts you require and to furnish you continuing proof of
coverage. I will have the insurance company name you as a loss payee on any such
policy. You may require added security if you agree that insurance proceeds may
be used to repair or replace the property. I will buy insurance from a firm
licensed to do business in the state where you are located. The firm will be
reasonably acceptable to you. The insurance will last until the property is
released from this agreement. If I fail to obtain or maintain this insurance ,
or name you as a loss payee, you may obtain insurance to protect your interest
in the property. This insurance may include coverages not required of me. This
insurance may be written by a company other than one I would choose. It may be
written at a rate higher than a rate I could obtain if I purchased the property
insurance required by this Contract. You will add the

(C) 1986, 1990 Bankers Systems, Inc.,                              (page 2 of 2)
    St. Cloud, MN (1-800-397-2341)
    Security Agreement Form SA-AR 7/3/97

<PAGE>

premium for this insurance to the amount I owe you. Any amount you pay will be
due immediately. This amount will earn finance charges from the date paid.

WARRANTIES AND REPRESENTATIONS - If this agreement includes accounts, I will not
settle any account for less than its full value without your written permission.
I will collect all accounts until you tell me otherwise. I will keep the
proceeds from all the accounts and any good which are returned to me or which I
take back in trust for you. I will not mix them with any other property of mine.
I will deliver them to you at your request. If you ask me to pay you the full
price on any returned items or items retaken by myself, I will do so.

         If this agreement covers inventory, I will not dispose of it except in
my ordinary course of business as the fair market value for the property, or at
a minimum price established between you and me.

         If this agreement covers farm products I will provide you, at your
request, a written list of the buyers, commission merchants or selling agents to
or through whom I may sell farm products. In addition to those parties named on
this written list, I authorize you to notify at your sole discretion any
additional parties regarding your security interest in my farm products. I
remain subject to all applicable penalties for selling my farm products in
violation of my agreement with you and the Food Security Act. In this paragraph
the terms farm products, buyers, commission merchants and selling agents have
the meanings given to them in the Federal Food Security Act of 1985.

DEFAULT - I will be in default if any one or more of the following occur: (1) I
fail to make a payment on time or in the amount due; (2) I fail to keep the
property insured, if require; (3) I fail to pay, or keep any promise, on any
debt or agreement I have with you; (4) any other creditor of mine attempts to
collect any debt I owe him trough court proceedings; (5) I die, am declared
incompetent, make an assignment for the benefit of creditors, or become
insolvent (either because my liabilities exceed my assets or I am unable to pay
my debts as they may become due); (6) I make any written statement or provide
any financial information that is untrue or inaccurate at the time it was
provided; (7) I do or fail to do something which causes you to believe that you
will have difficulty collecting the amount I owe you; (8) I change my name or
assume an additional name without first notifying you before making such a
change; (9) failure to plant, cultivate and harvest crops in due season; (10) if
any loan proceeds are used for purpose that will contribute to excessive erosion
of highly erodible land or to the conversion of wetlands to produce an
agricultural commodity, as further explained in 7 C.F.R. Part 1940, Subpart G,
Exhibit M.

REMEDIES - If I am in default on this agreement, you have the following
remedies:

         1)   You may demand immediate payment of all I owe you under any
              obligation secured by this agreement.

         2)   You may set off any obligation I have to you against any right I
              have to the payment of money from you.

         3)   You may demand more security or new parties obligated to pay any
              debt I owe you as a condition of giving up any other remedy.

         4)   You may make use of any remedy you have under state or federal
              law.

         5)   If I default by failing to pay taxes or other charges, you may pay
              them (but you are not required to do so). If you do, I will repay
              to you the amount you paid plus interest at the highest contract
              rate.

         6)   You may require me to gather the property and make it available to
              you in a reasonable fashion.

         7)   You may repossess the property and sell it as provided by law. You
              may repossess the property so long as the repossession does not
              involve a breach of the peace or an illegal entry onto my
              property. You may sell the property as provided by law. You may
              apply what you receive from the sale of the property to: your
              expenses; your reasonable attorneys' fees and legal expenses
              (where not prohibited by law); any debt I owe you. If what you
              receive from the sale of the property does not satisfy the debts,
              you may take me to court to recover the difference (where
              permitted by law).

              I agree that 10 days written notice sent to my address listed on
              page 1 by first class mail will be reasonable notice to me under
              the Uniform Commercial Code.

              If any items not otherwise subject to this agreement are contained
              in the property when you take possession, you may hold these items
              for me at my risk and you will not be liable for taking possession
              of them.

         8)   In some cases, you may keep the property to satisfy the debt. You
              may enter upon and take possession of all or part of my property,
              so long as you do not breach the peace or illegally enter onto the
              property, including lands, plants, buildings, machinery, and
              equipment as may be necessary to permit you to manufacture,
              produce, process, store or sell or complete the manufacture,
              production, processing, storing or sale of any of the property and
              to use and operate the property for the length of time you feel is
              necessary to protect your interest, all without payment or
              compensation to me.

         By choosing any one or more of these remedies, you do not waive your
right to later use any other remedy. You do not waive a default if you choose
not to use any remedy, and, by electing not to use any remedy, you do not waive
your right to later consider the event a default and to immediately use any
remedies if it continues or occurs again.

FILING - A carbon, photographic or other reproduction of this security agreement
or the financing statement covering the property described in this agreement may
be used as a financing statement where allowed by law. Where permitted by law,
you may file a financing statement which does not contain my signature, covering
the property secured by this agreement.

CO-MAKERS - If more than one of us has signed this agreement, we are all
obligated equally under the agreement. You may sue any one of us or any of us
together if this agreement is violated. You do not have to tell me if any term
of the agreement has not been carried out. You may release any co-signer and I
will still be obligated under this agreement. You may release any of the
security and I will still be obligated under this agreement. Waiver by you of
any of your rights will not affect my duties under this agreement. Extending
this agreement or new obligations under this agreement, will not affect my duty
under this agreement.

(C) 1986, 1990 Bankers Systems, Inc.,                              (page 2 of 2)
    St. Cloud, MN (1-800-397-2341)
    Security Agreement Form SA-AR 7/3/97

<PAGE>

                              ADDITIONAL PROVISIONS

         6. Whether or not any existing relationship between the Undersigned and
Borrower has been changed or ended and whether or not this guaranty has been
revoked, Lender may, but shall not be obligated to, enter into transactions
resulting in the creation or continuance of Indebtedness, without any consent or
approval by the Undersigned and without any notice to the Undersigned. The
liability of the Undersigned shall not be affected or impaired by any of the
following acts or things (which Lender is expressly authorized to do, omit or
suffer from [time?] to time, both before and after revocation of this guaranty,
without notice to or approval by the Undersigned): [(i)?] any acceptance of
collateral security, guarantors, accommodation parties or sureties for any or
all Indebtedness; (ii) any one or more extensions or renewals of Indebtedness
(whether or not for longer than the original period) or any modification of the
interest rates, maturities or other contractual terms applicable to any
Indebtedness; (iii) any waiver, adjustment, forbearance, compromise or
indulgence granted to Borrower, any delay or lack of diligence in the
enforcement of Indebtedness, or any failure to institute proceedings, file a
claim, give any required notices or otherwise protect any Indebtedness; (iv) any
full or partial release of, settlement with, or agreement not to sue, Borrower
or any other guarantor or other person liable in respect of any Indebtedness;
(v) any discharge of any evidence of Indebtedness or the acceptance of any
instrument in renewal thereof or substitution therefor; (vi) any failure to
obtain collateral security (including rights of setoff) for Indebtedness, or see
to the proper or sufficient creation and perfection thereof, or to establish the
priority thereof, or to protect, insure, or enforce any collateral security; or
any release, modification, substitution, discharge, impairment, deterioration,
waste, or loss of any collateral security; (vii) any foreclosure or enforcement
of any collateral security; (viii) any transfer of any Indebtedness or any
evidence thereof; (ix) any order of application of any payments or credits upon
Indebtedness; (x) any election by the Lender under ss.111(b)(2) of the United
States Bankruptcy Code.

         7. The Undersigned waives any and all defenses, claims and discharges
of Borrower, or any other obligor, pertaining to Indebtedness, except the
defense of discharge by payment in full. Without limiting the generality of the
foregoing, the Undersigned will not assert, plead or enforce against Lender any
defense of waiver, release, statute of limitations, res judicata, statute of
frauds, fraud, incapacity, minority, usury, illegality or unenforceability which
may be available to Borrower or any other person liable in respect of any
Indebtedness, or any setoff available against Lender to Borrower or any such
other person, whether or not on account of a related transaction. The
Undersigned expressly agrees that the Undersigned shall be and remain liable, to
the fullest extent permitted by applicable law, for any deficiency remaining
after foreclosure of any mortgage or security interest securing Indebtedness,
whether or not the liability of Borrower or any other obligor for such
deficiency is discharged pursuant to statute or judicial decision. The
undersigned shall remain obligated, to the fullest extent permitted by law, to
pay such amounts as though the Borrower's obligations had not been discharged.

         8. The Undersigned further agrees that the Undersigned shall be and
remain obligated to pay Indebtedness even though any other person obligated to
pay Indebtedness, including Borrower, has such obligation discharged in
bankruptcy or otherwise discharged by law. "Indebtedness" shall include
post-bankruptcy petition interest and attorneys' fees and any other amounts
which Borrower is discharged from paying or which do not otherwise accrue to
Indebtedness due to Borrower's discharge, and the Undersigned shall remain
obligated to pay such amounts as though Borrower's obligations had not been
discharged.

         9. If any payments applied by Lender to Indebtedness is thereafter set
aside, recovered, rescinded or required to be returned for any reason
(including, without limitation, the bankruptcy, insolvency or reorganization of
Borrower [or?] any other obligor), the Indebtedness to which such payment was
applied shall for the purpose of this guaranty [be deemed?] to have continued in
existence, notwithstanding such application, and this guaranty shall be
enforceable as to such Indebtedness as fully as if such application had never
been made.

         10. The Undersigned waives any claim, remedy or other right which the
Undersigned may now have or hereafter acquire against Borrower or any other
person obligated to pay Indebtedness arising out of the creation or performance
of the Undersigned's obligation under this guaranty, including, without
limitation, any right of subrogation, contribution, reimbursement,
indemnification, exoneration, and any right to participate in any claims or
remedy the Undersigned may have against the Borrower, collateral, or other party
obligated for Borrower's debts, whether or not such claim, remedy or right
arises in equity, or under contract, statute or common law.

         11. The Undersigned waives the presentment, demand for payment, notice
of dishonor or nonpayment, and protest of any instrument evidencing
Indebtedness. Lender shall not be required first to resort for payment of the
Indebtedness to Borrower or other persons or their properties, or first to
enforce, realize upon or exhaust any collateral security for Indebtedness,
before enforcing this guaranty.

         12. The liability of the Undersigned under this guaranty is in addition
to and shall be cumulative with all other liabilities of the Undersigned to
Lender as guarantor or otherwise, without any limitation as to amount, unless
the instrument or agreement evidencing or creating such other liability
specifically provides to the contrary.

         13. This guaranty shall be enforceable against each person signing this
guaranty, even if only one person signs and regardless of any failure of other
persons to sign this guaranty. If there be more than one signer, all agreements
and promises herein shall be construed to be, and are hereby declared to be,
joint and several in each of every particular and shall be fully binding upon
and enforceable against either, any or all the Undersigned. This guaranty shall
be effective upon delivery to Lender, without further act, condition or
acceptance by Lender, shall be binding upon the Undersigned and the heirs,
representatives, successors and assigns of the Undersigned and shall inure to
the benefit of Lender and its participants, successors and assigns. Any
invalidity or unenforceability of any provision or application of this guaranty
shall not affect other lawful provisions and application hereof, and to this end
the provisions of this guaranty are declared to be severable. Except as
authorized by the terms herein, this guaranty may not be waived, modified,
amended, terminated, released or otherwise changed except by a writing signed by
the Undersigned and Lender. This guaranty shall be governed by the laws of the
State in which it is executed. The Undersigned waives notice of Lender's
acceptance hereof.

(C) 1986, 1990 Bankers Systems, Inc.,                              (page 2 of 2)
    St. Cloud, MN (1-800-397-2341)
    Security Agreement Form SA-AR 7/3/97<PAGE>

                                    GUARANTY
                                                            Springdale, Arkansas

                                                               December 29, 2000

         For good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, and to induce THE FIRST NATIONAL BANK OF
SPRINGDALE, 100 West Emma, Box 249, Springdale, Arkansas 72765 (herein, with its
participants, successors and assigns, called "Lender"), at its option, at any
time or from time to time to make loans or extend other accommodations to or for
the account of TRAMMEL DIRECTIONAL BORING, INC. (herein called the "Borrower")
or to engage in any other transactions with Borrower, the Undersigned hereby
absolutely and unconditionally guarantees to Lender the full and prompt payment
when due, whether at maturity or earlier by reason of acceleration or otherwise,
of the debts, liabilities and obligations described as follows:

         A.   If this ____ is checked, the Undersigned guarantees to Lender the
              payment and performance of the debt, liability or obligation of
              Borrower to Lender evidenced by or arising out of the following:
              NOTE DATED 12/29/00 IN THE AMOUNT OF $110,141.66 and any
              extensions, renewals or replacements thereof (hereinafter referred
              to as the "Indebtedness").

         B.   If this ____ is checked, the Undersigned guarantees to Lender the
              payment and performance of each and every debt, liability and
              obligation of every type and description which Borrower may now or
              at any time hereafter owe to Lender (whether such debt, liability
              or obligation now exists or is hereafter created or incurred, and
              whether it I or may be direct or indirect, due or to become due,
              absolute or contingent, primary or secondary, liquidated or
              unliquidated, or joint, several or joint and several; all such
              debts, liabilities and obligations being hereinafter collectively
              referred to as the "indebtedness"). Without limitation, this
              guaranty includes the following described                 debt(s):
              ------------------------------------------------------------------
              ------------------------------------------------------------------

         The term "Indebtedness" as used in this guaranty shall not include any
obligations as used in this guaranty shall not include any obligations entered
into between Borrower and Lender after the date hereof (including any
extensions, renewals or replacements of such obligations0 for which Borrower
meets the Lender's standard of creditworthiness based on Borrower's own assets
and income without the addition of a guaranty, or for which a guaranty is
required but Borrower chooses someone other than the joint Undersigned to
guaranty the obligation.

         The Undersigned further acknowledges and agrees with Lender that:

         1. No act or thing need occur to establish the liability of the
Undersigned hereunder, and no act or thing, except full payment and discharge of
all indebtedness, shall in any way exonerate the Undersigned or modify, reduce,
limit or release the liability of the Undersigned hereunder.

         2. This is an absolute, unconditional and continuing guaranty of
payment of the indebtedness and shall continue to be in force and be binding
upon the Undersigned, whether or not all Indebtedness is paid in full, until
this guaranty is revoked by written notice actually received by the Lender, and
such revocation shall not be effective as __ Indebtedness existing or committed
for at the time of actual receipt of such notice by the Lender, or as to any
renewals, extensions and refinancings thereof. If there be more than one
Undersigned, such revocation shall be effective only as to the one so revoking.
The death or incompetence of the Undersigned shall not revoke this guaranty,
except upon actual receipt of written notice thereof by Lender and then only as
to the decadent or the incompetent and only prospectively, as to future
transactions, as herein set forth.

         3. If the Undersigned shall be dissolved, shall die, or shall be or
become insolvent (however defined) or revoke this guaranty, then the Lender
shall have the right declare immediately due and payable, and the Undersigned
will forthwith pay to the Lender, the full amount of all Indebtedness, whether
due and payable or unmatured. If the Undersigned voluntarily commences or there
is commenced involuntarily against the Undersigned a case under the United
States Bankruptcy Code, the full amount of all Indebtedness, whether due and
payable or unmatured, shall be immediately due and payable without demand or
notice thereof.

         4. The liability of the Undersigned hereunder shall be limited to a
principal amount of $110,141.66 (if unlimited or if no amount is stated, the
Undersigned shall be liable for all Indebtedness, without any limitation as to
amount), plus accrued interest thereon and all attorneys' fees, collection costs
and enforcement expenses referable thereto. Indebtedness may be created and
continued in any amount, whether or not in excess of such principal amount,
without affecting or impairing the liability of the Undersigned hereunder. The
Lender may apply any sums received by or available to Lender on account of the
Indebtedness from Borrower or any other person (except the Undersigned), from
their properties, out of any collateral security or from any other source to
payment of the excess. Such application of receipts shall not reduce, affect or
impair the liability of the Undersigned hereunder. If the liability of the
Undersigned is limited to a stated amount pursuant to this paragraph 4, any
payment made by the Undersigned under this guaranty shall be effective to reduce
or discharge such liability only if accompanied by a written transmittal
document, received by the Lender, advising the Lender that such payment is made
under this guaranty for such purpose.

         5. The Undersigned will pay or reimburse Lender for all costs and
expenses (including reasonable attorneys' fees and legal expenses) incurred by
Lender in connection with the protection, defense and enforcement of this
guaranty in any litigation or bankruptcy or insolvency proceedings.

         This guaranty includes the additional provisions on page 2, all of
which are made a part hereof.

         This guaranty is ___ unsecured; ___ secured by a mortgage or security
agreement dated ________; ___ secured by
                                         --------------------------------------.

         IN WITNESS WHEREOF, this guaranty has been duly executed by the
Undersigned the day and year first above written.

                                                     /s/ Lisa A. Trammell
                                                   -----------------------------
                                                   LISA A. TRAMMELL
                                                   (SS ####-##-####)
51064

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