Document:

Exhibit
      10.5

    
      
        

      

    

    

    

    INDENTURE

    

    

    Streicher
      Mobile Fueling, Inc.

    

    

    and

    

    

    [_________________________]

    

    

    

    

    

    Dated
      as of September 1, 2005

    

    

    $3,000,000

    

    

    10%
      Senior Secured Notes due August 31, 2010

     

    

      

       

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    

      TABLE
        OF CONTENTS

      Page

      
        	
                ARTICLE
                  I

              
	
                DEFINITIONS
                  AND RULES OF CONSTRUCTION

              
	
                1.1

              	
                DEFINITIONS

              	
                1

              
	
                1.2

              	
                OTHER
                  DEFINITIONS

              	
                3

              
	
                1.3

              	
                RULES
                  OF CONSTRUCTION

              	
                4

              
	
                ARTICLE
                  II

              
	
                THE
                  SECURITIES

              
	
                2.1

              	
                FORM
                  AND DATING

              	
                4

              
	
                2.2

              	
                AGENTS.

              	
                4

              
	
                2.3

              	
                PAYING
                  AGENT AND TRUSTEE TO HOLD MONEY IN TRUST

              	
                4

              
	
                2.4

              	
                HOLDER
                  LISTS

              	
                5

              
	
                2.5

              	
                TRANSFER
                  AND EXCHANGE

              	
                5

              
	
                2.6

              	
                OUTSTANDING
                  NOTES

              	
                5

              
	
                2.7

              	
                TREASURY
                  NOTES DISREGARDED FOR CERTAIN PURPOSES

              	
                6

              
	
                2.8

              	
                CANCELLATION

              	
                6

              
	
                ARTICLE
                  III

              
	
                REDEMPTION

              
	
                3.1

              	
                NOTICE
                  TO TRUSTEE

              	
                6

              
	
                3.2

              	
                SELECTION
                  OF NOTES TO BE REDEEMED

              	
                6

              
	
                3.3

              	
                NOTICE
                  OF REDEMPTION

              	
                7

              
	
                3.4

              	
                DEPOSIT
                  OF REDEMPTION PRICE

              	
                7

              
	
                3.5

              	
                NOTES
                  REDEEMED IN PART

              	
                7

              
	
                ARTICLE
                  IV

              
	
                COVENANTS

              
	
                4.1

              	
                PAYMENT
                  OF NOTES

              	
                7

              
	
                4.2

              	
                SEC
                  REPORTS

              	
                7

              
	
                4.3

              	
                COMPLIANCE
                  CERTIFICATE

              	
                7

              
	
                4.4

              	
                NOTICE
                  OF CERTAIN EVENTS

              	
                8

              
	
                ARTICLE
                  V

              
	
                SUCCESSORS

              
	
                5.1

              	
                WHEN
                  COMPANY MAY MERGE, ETC

              	
                8

              
	
                5.2

              	
                SUCCESSOR
                  CORPORATION SUBSTITUTED

              	
                9

              

         

        
          
             

          

          
            i

            
              

            

          

          
             

          

           

        

        
          	
                  ARTICLE
                    VI

                
	
                  DEFAULTS
                    AND REMEDIES

                
	
                  6.1

                	
                  ACCELERATION

                	
                  9

                
	
                  6.2

                	
                  NOTICE
                    OF DEFAULTS

                	
                  9

                
	
                  6.3

                	
                  OTHER
                    REMEDIES

                	
                  9

                
	
                  6.4

                	
                  CONTROL
                    BY TWO-THIRDS MAJORITY

                	
                  9

                
	
                  6.5

                	
                  LIMITATION
                    ON SUITS

                	
                  10

                
	
                  6.6

                	
                  RIGHTS
                    OF HOLDERS TO RECEIVE PAYMENT

                	
                  10

                
	
                  6.7

                	
                  PRIORITIES

                	
                  10

                
	
                  6.8

                	
                  UNDERTAKING
                    FOR COSTS

                	
                  11

                
	
                  6.9

                	
                  PROOF
                    OF CLAIM

                	
                  11

                
	
                  6.10

                	
                  ACTIONS
                    OF A HOLDER

                	
                  11

                
	
                  ARTICLE
                    VII

                
	
                  OTHER
                    DISTRIBUTIONS

                
	
                  7.1

                	
                  PRIORITIES

                	
                  11

                
	
                  ARTICLE
                    VIII

                
	
                  TRUSTEE

                
	
                  8.1

                	
                  DUTIES
                    OF TRUSTEE

                	
                  12

                
	
                  8.2

                	
                  RIGHTS
                    OF TRUSTEE

                	
                  13

                
	
                  8.3

                	
                  INDIVIDUAL
                    RIGHTS OF TRUSTEE; DISQUALIFICATION

                	
                  13

                
	
                  8.4

                	
                  TRUSTEE’S
                    DISCLAIMER

                	
                  14

                
	
                  8.5

                	
                  COMPENSATION
                    AND INDEMNITY

                	
                  14

                
	
                  8.6

                	
                  REPLACEMENT
                    OF TRUSTEE

                	
                  15

                
	
                  8.7

                	
                  SUCCESSOR
                    TRUSTEE BY MERGER, ETC

                	
                  16

                
	
                  ARTICLE
                    IX

                
	
                  SATISFACTION
                    AND DISCHARGE

                
	
                  9.1

                	
                  SATISFACTION
                    AND DISCHARGE OF INDENTURE

                	
                  16

                
	
                  9.2

                	
                  APPLICATION
                    OF TRUST FUNDS

                	
                  17

                
	
                  9.3

                	
                  REINSTATEMENT

                	
                  17

                
	
                  9.4

                	
                  REPAYMENT
                    TO COMPANY

                	
                  17

                

           

          
            
               

            

            
              ii

              
                

              

            

            
               

            

             

          

          
            	
                    ARTICLE
                      X

                  
	
                    AMENDMENTS

                  
	
                    10.1

                  	
                    WITHOUT
                      CONSENT OF HOLDERS

                  	
                    17

                  
	
                    10.2

                  	
                    WITH
                      CONSENT OF HOLDERS

                  	
                    18

                  
	
                    10.3

                  	
                    COMPLIANCE
                      WITH TRUST INDENTURE ACT AND SECTION12.3

                  	
                    18

                  
	
                    10.4

                  	
                    REVOCATION
                      AND EFFECT OF CONSENTS AND WAIVERS

                  	
                    19

                  
	
                    10.5

                  	
                    NOTICE
                      OF AMENDMENT; NOTATION ON OR EXCHANGE OF NOTES

                  	
                    19

                  
	
                    10.6

                  	
                    TRUSTEE
                      PROTECTED

                  	
                    19

                  
	
                    ARTICLE
                      XI

                  
	
                    SUBORDINATION

                  
	
                    11.1

                  	
                    NOTES
                      SUBORDINATED TO SENIOR DEBT

                  	
                    19

                  
	
                    11.2

                  	
                    NOTES
                      SUBORDINATED IN ANY PROCEEDING

                  	
                    19

                  
	
                    11.3

                  	
                    NO
                      PAYMENT ON NOTES IN CERTAIN CIRCUMSTANCES

                  	
                    19

                  
	
                    11.4

                  	
                    OBLIGATIONS
                      OF THE COMPANY UNCONDITIONAL

                  	
                    20

                  
	
                    11.5

                  	
                    TRUSTEE
                      ENTITLED TO ASSUME PAYMENTS NOT PROHIBITED IN ABSENCE OF
                      NOTICE

                  	
                    20

                  
	
                    11.6

                  	
                    SATISFACTION
                      AND DISCHARGE

                  	
                    20

                  
	
                    11.7

                  	
                    SUBORDINATION
                      RIGHTS NOT IMPAIRED BY ACTS OR OMISSIONS OF THE COMPANY OR
                      HOLDERS OF
                      SENIOR DEBT

                  	
                    21

                  
	
                    11.8

                  	
                    NO
                      FIDUCIARY DUTY OF TRUSTEE OR HOLDERS TO HOLDERS OF SENIOR
                      DEBT

                  	
                    21

                  
	
                    11.9

                  	
                    TRUSTEE’S
                      RIGHTS TO COMPENSATION, REIMBURSEMENT OF EXPENSES AND
                      INDEMNIFICATION

                  	
                    21

                  
	
                    11.10

                  	
                    EXCEPTION
                      FOR CERTAIN DISTRIBUTIONS

                  	
                    21

                  
	
                    ARTICLE
                      XII

                  
	
                    MISCELLANEOUS

                  
	
                    12.1

                  	
                    NOTICES

                  	
                    21

                  
	
                    12.2

                  	
                    COMMUNICATION
                      BY HOLDERS WITH OTHER HOLDERS

                  	
                    22

                  
	
                    12.3

                  	
                    CERTIFICATE
                      AND OPINION AS TO CONDITIONS PRECEDENT

                  	
                    22

                  
	
                    12.4

                  	
                    STATEMENTS
                      REQUIRED IN CERTIFICATE OR OPINION

                  	
                    22

                  
	
                    12.5

                  	
                    RULES
                      BY TRUSTEE

                  	
                    23

                  
	
                    12.6

                  	
                    NO
                      RECOURSE AGAINST OTHERS

                  	
                    23

                  
	
                    12.7

                  	
                    VARIABLE
                      PROVISIONS

                  	
                    23

                  
	
                    12.8

                  	
                    GOVERNING
                      LAW

                  	
                    23

                  
	
                    12.9

                  	
                    SEVERABILITY

                  	
                    23

                  
	
                    12.10

                  	
                    EFFECT
                      OF HEADINGS, TABLE OF CONTENTS, ETC

                  	
                    23

                  

             

            
              
                 

              

              
                iii

                
                  

                

              

              
                 

              

               

            

            
              	
                      12.11

                    	
                      COUNTERPARTS;
                        FACSIMILE

                    	
                      23

                    
	
                      12.12

                    	
                      SUCCESSORS
                        AND ASSIGNS

                    	
                      24

                    
	
                      12.13

                    	
                      NO
                        INTERPRETATION OF OTHER AGREEMENTS

                    	
                      24

                    

            

          

        

      

      
        	EXHIBIT
                A	
                Form
                  of Note

              

      

      
        
           

        

        
          iv

          
            

          

        

        
           

          
          

        

      

      THIS
        INDENTURE is dated effective as of September 1, 2005, between Streicher Mobile
        Fueling, Inc., a Florida corporation (the “Company”),
        and
        [________________________], a _______________ corporation (the “Trustee”).

      

      Each
        party agrees as follows for the benefit of the other party and for the equal
        and
        ratable benefit of the Holders of the Company’s 10% Senior Secured Notes due
        August 31, 2010, in substantially the form attached as Exhibit
        A
        hereto
        (the “Notes”):

       

      ARTICLE
        I

      DEFINITIONS
        AND RULES OF CONSTRUCTION

       

      1.1 Definitions.

      

      “2003
        Notes”
        means
        the Company’s 10% Senior Secured Promissory Notes due August 28,
        2008.

      

      “2005
        Notes”
        means
        the Company’s 10% Senior Secured Promissory Notes due January 24,
        2010.

      

      “Affiliate”
        means
        any Person controlling, controlled by, or under common control with the
        referenced Person. “Control” for this definition means the power to direct the
        management and policies of a Person, directly or indirectly, whether through
        the
        ownership of voting securities, by contract, or otherwise. The terms
“controlling” and “controlled” have meanings correlative to the definition of
“control.”

      

      “Bankruptcy
        Law”
        means
        Title 11 of the U.S. Code or any similar federal or state law
        for the
        relief of debtors. 

      

      “Business
        Day”
        means a
        day that is not a Legal Holiday.

      

      “Common
        Stock”
        means
        the common stock of the Company, par value $.01 per share. 

      

      “Collateral”
        shall
        have the meaning given to that term in the Security Agreement.

      

      “Company”
        means
        Streicher Mobile Fueling, Inc., a Florida corporation. 

      

      “Custodian”
        means
        any receiver, trustee, assignee, liquidator or similar official under any
        Bankruptcy Law.

      

      “Debt”
        means,
        with respect to any Person, (a) any obligation of such Person to pay
        the
        principal of, premium of, if any, interest on (including interest accruing
        on or
        after the filing of any petition in bankruptcy or for reorganization relating
        to
        the Company, whether or not a claim for such post-petition interest is allowed
        in such proceeding), penalties, reimbursement or indemnification amounts,
        fees,
        expenses or other amounts relating to any indebtedness, and any other liability,
        contingent or otherwise, of such Person (i) for borrowed money (including
        instances where the recourse of the lender is to the whole of the assets
        of such
        Person or to a portion thereof), (ii) evidenced by a note, debenture
        or
        similar instrument (including a purchase money obligation) including securities,
        (iii) for any letter of credit or performance bond in favor of such
        Person,
        or (iv) for the payment of money relating to a capitalized lease
        obligation; (b) any liability of others of the kind described in the
        preceding clause (a), which the Person has guaranteed or which is
        otherwise
        its legal liability; (c) any obligation of the type described in
        clauses (a) and (b) secured by a lien to which the property or assets
        of
        such Person are subject, whether or not the obligations secured thereby shall
        have been assumed by or shall otherwise be such Person’s legal liability; and
        (d) any and all deferrals, renewals, extensions and refunding of,
        or
        amendments, modifications or supplements to, any liability of the kind described
        in any of the preceding clauses (a), (b) or (c).

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      “Default”
        means
        any event that is, or after notice or passage of time would be, an Event
        of
        Default.

      

      “Distribution”
        in any
        Proceeding means any payment or distribution of assets or securities of the
        Company of any kind or character from any source, whether in cash, securities
        or
        other property made by the Company, custodian, liquidating trustee or agent
        or
        any other person whether pursuant to a plan or otherwise.

      

      “Event
        of Default”
        shall
        be as defined in the Note.

      

      “Exchange
        Act”
        means
        the Securities Exchange Act of 1934, as amended.

      

      “Holder”
        means a
        Person in whose name a Note is registered.

      

      “Indenture”
        means
        this Indenture as amended from time to time.

      

      A
        “Legal
        Holiday”
        is a
        Saturday, a Sunday or a day on which banking institutions are not required
        to be
        open. If a payment date is a Legal Holiday at a place of payment, payment
        may be
        made at that place on the next succeeding day that is not a Legal Holiday,
        and
        no interest shall accrue for the intervening period. 

      

      “Notes”
        means
        the 10% Senior Secured Promissory Notes due August 31, 2010 held by a Holder,
        in
        substantially the form attached as Exhibit
        A
        hereto.

      

      “Officer”
        means
        the President, any Vice President, the Treasurer, the Secretary, any Assistant
        Treasurer or any Assistant Secretary of the Company. 

      

      “Person”
        means
        any individual, corporation, partnership, joint venture, association, limited
        liability company, joint stock company, trust, unincorporated organization
        or
        government or other agency or political subdivision thereof.

      

      “Proceeding”
        means a
        liquidation, dissolution, bankruptcy, insolvency, reorganization, receivership,
        or similar proceeding under Bankruptcy Law, an assignment for the benefit
        of
        creditors, any marshalling of assets or liabilities, or winding up or
        dissolution, but does not include any transaction permitted by, and made
        in
        compliance with, Article 5.

      

      “SEC”
        means
        the United States Securities and Exchange Commission.

      

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

      “Securities
        Purchase Agreement”
        means
        the Securities Purchase Agreement by and between the Company and the Purchasers
        (as defined therein), dated the date hereof.

      

      “Security
        Agreement”
        means
        the Security Agreement dated of even date herewith between the Company and
        Trustee.

      

      “Senior
        Debt”
        means
        debt of the Company whenever incurred, outstanding at any time, which expressly
        states by its terms that it is senior in right of payment to the Notes,
        including, but not limited to, the debt evidenced under the Wachovia Agreements;
        provided,
        however,
        that
        Debt held by the Company or any Affiliate of the Company is not deemed to
        be
        Senior Debt; provided,
        further,
        that
        the obligations under the 2003 Notes, the 2005 Notes and the related indentures
        are not deemed to be Senior Debt for any purpose hereunder.

      

      “Senior
        Debt Default Notice”
        means
        any notice of a default (other than a Senior Debt Payment Default) that permits
        the holders of any Senior Debt to declare such Senior Debt due and
        payable.

      

      “Senior
        Debt Payment Default”
        means a
        default in the payment of any principal of or interest on any Senior
        Debt.

      

      “TIA”
        means
        the Trust Indenture Act of 1939 (15 U.S.C. §§ 77aaa-77bbbb), as
        amended from time to time.

      

      “Trustee”
        means
        [______________________, a ___________ corporation].

      

      “U.S.
        Government Obligations”
        means
        securities that are direct, noncallable, nonredeemable obligations of, or
        noncallable, nonredeemable obligations guaranteed by, the United States for
        the
        timely payment of which obligation or guarantee the full faith and credit
        of the
        United States is pledged, or funds consisting solely of those securities,
        including funds managed by Trustee or one of its Affiliates (including funds
        for
        which it or its Affiliates receives fees in connection with such
        management).

      

      “Wachovia”
        means
        Wachovia Bank, National Association, successor by merger to Congress Financial
        Corporation (Florida).

      

      “Wachovia
        Agreements”
        means,
        collectively, the Loan and Security Agreement by and between the Company
        and
        Wachovia dated September 26, 2002 and the loan documents referenced therein,
        together with all amendments thereto.

       

      1.2 Other
        Definitions.

      
        	
                Term

              	
                Defined
                  in Section

              
	 	 
	
                “EBITDA”

              	
                5.1

              
	
                “Notice”

              	
                11.1

              
	
                “Paying
                  Agent”

              	
                2.3

              
	
                “Registrar”

              	
                2.3

              
	
                “Total
                  Debt”

              	
                5.1

              
	
                “Total
                  Debt Ratio”

              	
                5.1

              

      

    

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    

      1.3 Rules
        of Construction.
        Unless
        the context otherwise requires:

      

      (a) a
        term
        defined in Section 1.1
        or
Section 1.2
        has the
        meaning assigned to it in those Sections;

      

      (b) an
        accounting term not otherwise defined has the meaning assigned to that term
        in
        accordance with generally accepted accounting principles in the United
        States;

      

      (c) the
        word
“or” is not exclusive;

      

      (d) a
        word in
        the singular includes the plural, and a word in the plural includes the
        singular;

      

      (e) provisions
        apply to successive events and transactions; and

      

      (f) the
        word
“including” means including without limitation.

       

      ARTICLE
        II

      THE
        SECURITIES

       

      2.1 Form
        and Dating.
        The
        Notes will be substantially in the form attached hereto as Exhibit A,
        the
        terms of which are incorporated by reference in, and expressly made a part
        of,
        this Indenture. The Notes may have notations, legends, or endorsements required
        by law, national stock exchange rule, automated quotation system, an agreement
        to which the Company is subject, or usage. Each Note will be dated the date
        of
        its issuance.

       

      2.2 Agents.
        

      

      (a) The
        Company will maintain an office or agency where Notes may be presented for
        registration of transfer or for exchange (the “Registrar”)
        and
        where Notes may be presented for payment (the “Paying
        Agent”).
        The
        Registrar will keep a register of the Notes and of their transfer and
        exchange.

      

      (b) The
        Company may appoint more than one Registrar or Paying Agent. The Company
        will
        notify Trustee of the name and address of any Registrar or Paying Agent not
        a
        party to this Indenture. If the Company does not appoint another Registrar
        or
        Paying Agent, the Company will act in that capacity. 

       

      2.3 Paying
        Agent and Trustee to Hold Money in Trust. On
        or
        prior to the due date for each payment of the principal and/or interest on
        any
        Note, the Company will deposit with the Paying Agent, or the Company or its
        Affiliate will segregate and hold in a separate trust fund, a sum sufficient
        to
        pay such payment. If the Company is not the Paying Agent, then the Company
        will
        require each Paying Agent, other than Trustee, to agree in writing that such
        Paying Agent will hold such sums in trust for the benefit of Holders. If
        Trustee
        receives any proceeds from the Collateral, which payment is not required
        by the
        Security Agreement to be applied to the purchase of replacement Collateral,
        then
        Trustee shall hold such amounts in trust until Trustee delivers such amounts
        to
        the Paying Agent on or prior to the due date for the next payment of the
        principal and/or interest on any Note, and such amounts shall be used to
        fund,
        in whole or in part, such payment, reducing the amount required to be paid
        by
        the Company to fund such payment. If Trustee receives any funds representing
        the
        proceeds of casualty or similar insurance on the Collateral, Trustee shall,
        in
        collaboration with the Company, cause such funds to be applied to the purchase
        of replacement Collateral, or repairs to existing Collateral, as the Company
        shall, in its discretion, elect. If and to the extent that the Company elects
        not to apply any such insurance proceeds to the purchase of replacement
        Collateral or the repair of existing Collateral, then the Trustee shall hold
        such amounts in trust until Trustee delivers such amounts to the Paying Agent
        on
        or prior to the due date for the next payment of the principal and/or interest
        on any Note, and such amounts shall be used to fund, in whole or in part,
        such
        payment reducing the amount required to be paid by the Company to fund such
        payment. The Paying Agent will notify the Holders and Trustee of any Default
        by
        the Company in making any deposit required under this Section
        2.3.
        During
        the continuation of any such Default, the Company may require the Paying
        Agent
        to transfer all sums held by the Paying Agent to Trustee and to account for
        any
        funds disbursed by the Paying Agent. Upon complying with this Section
        2.3,
        the
        Paying Agent shall have no further liability for such amounts delivered to
        Trustee. If the Company or any Affiliate of the Company acts as the Paying
        Agent, the Company or that Affiliate will segregate the sums held in its
        capacity as the Paying Agent in a separate trust fund.

       

      
        
           

        

        
          4

          
            

          

        

        
           

        

      

      2.4 Holder
        Lists.
        The
        Registrar maintain a list of the currently available names and addresses
        of
        Holders. The Company will furnish to Trustee, in writing at least ten (10)
        Business Days before each interest payment date and at such other times as
        Trustee may request, a list in such form and as of such date as Trustee may
        reasonably require of the names and addresses of Holders.

       

      2.5 Transfer
        and Exchange.
        

      

      (a) Each
        Note
        will be issued in
        unregistered form
        and will
        be transferable only upon surrender of such Note for registration of transfer
        and pursuant to the transfer restrictions noted in the Note. When a Note
        is
        presented to the Registrar with a request to register a transfer or to exchange
        it for an equal principal amount of Notes of other denominations in accordance
        with the provisions of the Note, the Registrar will register the transfer
        or
        make the exchange if the requirements for such transactions are met and the
        Note
        has not been redeemed. The Company may charge a reasonable fee for any
        registration of transfer or exchange.

      

      (b) All
        notes
        issued upon any transfer or exchange in accordance with the terms of this
        Indenture and the Notes will evidence the same debt and be subject to the
        same
        terms and conditions as the Notes surrendered upon such transfer or
        exchange.

       

      2.6 Outstanding
        Notes.

      

      (a) The
        Notes
“outstanding” as of any time are all of the Notes that have not been cancelled
        by Trustee or delivered to Trustee for cancellation pursuant to Section 2.8.
        A Note
        does not cease to be outstanding because the Company or an Affiliate holds
        the
        Note.

      

      
        
           

        

        
          5

          
            

          

        

        
           

        

      

      (b) A
        Note
        considered paid under Section 4.1
        ceases
        to be outstanding and interest on that Note ceases to accrue.

       

      2.7 Treasury
        Notes Disregarded for Certain Purposes.
        In
        determining whether the Holders of the required principal amount of Notes
        have
        concurred in any direction, waiver, or consent, any Notes owned by the Company
        or an Affiliate will be disregarded and deemed not to be outstanding, except
        that, for the purposes of determining whether Trustee will be protected in
        relying on any such direction, waiver, or consent, only Notes which Trustee
        knows are owned by the Company or an Affiliate will be disregarded. Notes
        owned
        by the Company or Affiliate that have been pledged in good faith will not
        be
        disregarded if the pledgee establishes to the satisfaction of Trustee the
        pledgee’s right to deliver any direction, waiver, or consent with respect to the
        Notes and that the pledgee is not the Company or any other obligor upon the
        Notes or any Affiliate of the Company or of that other obligor.

       

      2.8 Cancellation.
        The
        Company at any time may deliver Notes to Trustee for cancellation. The Paying
        Agent will forward to Trustee any Notes surrendered to the Paying Agent for
        payment. The Trustee will cancel all Notes surrendered for registration of
        transfer, exchange, payment or cancellation and will dispose of canceled
        Notes
        according to Trustee’s standard procedures or as the Company otherwise directs.
        The Company will not issue new Notes to replace Notes that (a) the Company
        has
        paid or (b) have been delivered to Trustee for cancellation.

       

      ARTICLE
        III

      REDEMPTION

       

      3.1 Notice
        to Trustee.

      

      (a) If
        the
        Company elects to redeem a Note pursuant to any optional redemption provisions
        of such Note, the Company will notify Trustee of the redemption in accordance
        with the terms and conditions set forth in the Note. 

      

      (b) The
        Company shall give the notice provided for in this Section
        3.1
        at least
        forty-five (45) days (unless both Wachovia and Trustee agree in writing to
        a
        shorter period) but not more than sixty (60) days before a redemption date,
        which notice shall specify the redemption date, the amount of principal due
        on
        the Note to be redeemed and the provisions of the Note pursuant to which
        the
        Company elects to redeem such Securities.

       

      3.2 Selection
        of Notes to be Redeemed.
        If less
        than all the Notes are to be redeemed, Trustee will select the Notes to be
        redeemed in a manner it deems fair and appropriate, which may include selection
        pro rata or by lot. Trustee will make such selection from all outstanding
        Notes
        that have not been previously called for redemption. Provisions of this
        Indenture that apply to Notes called for redemption also apply to portions
        of
        Notes called for redemption.

       

      3.3 Notice
        of Redemption.
        The
        Company will send a notice of redemption to each Holder whose Note is to
        be
        redeemed in accordance with the terms and conditions set forth in the
        Note.

       

      
        
           

        

        
          6

          
            

          

        

        
           

        

      

      3.4 Deposit
        of Redemption Price.
        On or
        before the redemption date, the Company will deposit with the Paying Agent
        (or,
        if the Company or any Affiliate is the Paying Agent, will segregate and hold
        in
        trust) the amounts sufficient to pay the redemption price of the Notes being
        redeemed together with all accrued interest thereon.

       

      3.5 Notes
        Redeemed in Part.
        Upon
        surrender of a Note that is redeemed in part, the Company will deliver to
        the
        Holder, at the Company’s expense, a new Note equal in principal amount to the
        unredeemed portion of the redeemed Note.

       

      ARTICLE
        IV

      COVENANTS

       

      4.1 Payment
        of Notes.

      

      (a) The
        Company will pay the principal of, and interest on, the Notes on the dates
        and
        in the manner provided in the Notes and this Indenture. Principal and interest
        will be considered paid on the date due if the requisite amounts (i) are
        paid to
        the Holders prior to or on such due date if the Paying Agent is the Company
        or
        its Affiliate, or (ii) are deposited with the Paying Agent prior to or on
        such
        due date if the Paying Agent is not the Company or its Affiliate.

      

      (b) The
        Company will pay interest on overdue principal and unpaid interest in accordance
        with the terms of, and at the rate prescribed in, the Notes.

       

      4.2 SEC
        Reports.
        From
        the date hereof until such time as all Notes have been paid in full, the
        Company
        will provide Trustee with copies of the annual reports and of the information,
        documents and other reports which the Company is required to file with the
        SEC
        pursuant to Section 13 or 15(d) of the Exchange Act. In the event
        the
        Company is no longer a reporting company with the SEC, the Company will provide
        Trustee with copies of the information and financial statements that would
        be
        required to be included in Forms 10-K and 10-Q at such times that any such
        form
        would be required to be filed with the SEC if the Company were a reporting
        company. The Company will also make available copies of any quarterly and
        annual
        reports that the Company makes available to its stockholders. Delivery of
        such
        reports, information, documents, and other reports to Trustee is for
        informational purposes only and Trustee’s receipt of such reports will not
        constitute notice or constructive notice of any information contained in
        such
        reports or determinable from information contained in such reports, including
        the Company’s compliance with any of covenants contained in this
        Indenture.

       

      4.3 Compliance
        Certificate.
        The
        Company will deliver to Trustee, within one hundred and five (105) days after
        the end of each fiscal year of the Company, a certificate signed by the chief
        executive officer, chief financial officer or principal accounting officer
        of
        the Company, as to such officer’s knowledge of the Company’s compliance with all
        conditions and covenants contained in this Indenture and the Note (determined
        without regard to any period of grace or requirement of notice provided in
        this
        Indenture).

       

      4.4 Notice
        of Certain Events.
        The
        Company shall give prompt written notice to Trustee, each Holder and any
        Paying
        Agent of (a) any Proceeding, (b) any Default or Event of Default,
        (c) any cure or waiver of any Default or Event of Default, (d) any
        Senior Debt Payment Default or Senior Debt Default Notice, and (e) the
        listing of any of the Notes on any national stock exchange.

       

      
        
           

        

        
          7

          
            

          

        

        
           

        

      

      ARTICLE
        V

      SUCCESSORS

       

      5.1 When
        Company May Merge, etc.

      

      (a) Without
        the consent in writing of the Holders of at least sixty-six and 2/3 percent
        (662/3%)
        of the
        principal amount of outstanding Notes, the Company will not consolidate or
        merge
        with or into, or transfer all or substantially all of its assets to, or acquire
        all or substantially all of the assets of, any Person, unless:

      

      (i) either:

      

      (A) the
        Company will be the resulting or surviving entity; or 

      

      (B) that
        Person (1) is a corporation organized and existing under the laws of the
        United
        States, a State of the United States or the District of Columbia and (2)
        assumes
        by supplemental indenture all the obligations of the Company under the Notes
        and
        this Indenture;

      

      (ii) the
        ratio
        of Total Debt divided by EBITDA (the “Total
        Debt Ratio”)
        is
        equal to or less than 4.0;

      

      (iii) immediately
        before and immediately after the transaction no Default exists;

      

      (iv) Richard
        E. Gathright remains as Chief Executive Officer of the Company; and

      

      (v) prior
        to
        the proposed transaction, the Company delivers to Trustee an Officer’s
        Certificate and an Opinion of Counsel, each of which will state that such
        consolidation, merger, or transfer and the supplemental indenture comply
        with
        this Article 4
        and that
        the Company has complied with all conditions precedent in this Indenture
        and
        relating to this transaction.

      

      (b) As
        used
        in this Section
        5.1,
        “Total
        Debt”
        means
        all Debt of the Company, including all subordinated debt but excluding the
        Senior Debt, accounts payable and accrued liabilities incurred in the ordinary
        course of business.

      

      (c) As
        used
        in this Section
        5.1,
        “EBITDA”
        means
        earnings before interest, taxes, depreciation and amortization calculated
        on an
        annualized basis based on the twelve (12) months preceding the month in which
        such transaction occurs.

       

      5.2 Successor
        Corporation Substituted.
        Upon
        any consolidation, merger, or any transfer of all or substantially all of
        the
        assets of the Company in accordance with Section 5.1,
        the
        successor corporation formed by such consolidation or into which the Company
        is
        merged or to which such transfer is made, will succeed to, and be substituted
        for, and may exercise every right and power of, the Company under this Indenture
        and the Notes with the same effect as if that successor had been named as
        the
        Company in this Indenture and in the Notes. In the event of any such transfer,
        the predecessor Company shall be released and discharged from all liabilities
        and obligations in respect of the Notes and the Indenture, and the predecessor
        Company may be dissolved, wound up or liquidated at any time
        thereafter.

       

      
        
           

        

        
          8

          
            

          

        

        
           

        

      

      ARTICLE
        VI

      DEFAULTS
        AND REMEDIES

       

      6.1 Acceleration.
        Upon
        the occurrence and during the continuation of an Event of Default, all
        outstanding principal and accrued and unpaid interest on the Notes will be
        immediately due and payable.

       

      6.2 Notice
        of Defaults.
        If a
        continuing Default is known to Trustee, Trustee will mail to the Holders
        a
        notice of the Default no later than thirty (30) days after it receives knowledge
        of such Default. Except in the case of a Default in the payment of any amounts
        of principal or interest due on any Note, Trustee may withhold the notice
        if and
        so long as Trustee in good faith determines that withholding the notice is
        in
        the interests of the Holders. Trustee
        shall mail to Holders any notice it receives from the Holder(s) under
Section 6.5,
        and of
        any notice Trustee provides pursuant to Section 6.5(c)(i).

       

      6.3 Other
        Remedies.
        

      

      (a) If
        an
        Event of Default occurs and is continuing, Trustee may pursue any available
        remedy to collect the payment of principal or interest on the Notes or to
        enforce the performance of any provision of the Notes, this Indenture or
        the
        Security Agreement.

      

      (b) The
        Trustee may maintain a proceeding under Section
        6.2(a)
        even if
        the Trustee does not possess any of the Notes or does not produce any of
        them in
        the Proceeding. A delay or omission by Trustee or any Holder in exercising
        any
        right or remedy accruing upon an Event of Default will not impair the right
        or
        remedy or constitute a waiver of or acquiescence in the Event of Default.
        All
        remedies are cumulative to the extent permitted by law. 

      6.4 Control
        by Two-Thirds Majority.
        The
        Holders of at least sixty-six and 2/3 percent (662/3%)
        of the
        principal amount of outstanding Notes may direct the time, method, and place
        of
        conducting any Proceeding for any remedy available to Trustee or exercising
        any
        trust or power conferred on Trustee. The Trustee, however, may refuse to
        follow
        any direction that conflicts with law or this Indenture, is unduly prejudicial
        to the rights of other Holders, or would involve Trustee in personal liability
        or expense for which Trustee has not received an indemnity reasonably
        satisfactory to Trustee.

       

      6.5 Limitation
        on Suits.

      

      (a) A
        Holder
        may pursue a remedy with respect to this Indenture or the Holder’s Note only
        if:

      

      
        
           

        

        
          9

          
            

          

        

        
           

        

      

      (i) Trustee
        has notice of an Event of Default;

      

      (ii) Holders
        of at least twenty-five
        percent (25%)
        in
        principal amount of the Notes make a written request to Trustee to pursue
        the
        remedy;

      

      (iii) Trustee
        either (A) gives to such Holders notice that Trustee will not comply
        with
        such request, or (B) does not comply with such request within fifteen
        (15) days
        after receipt of the request from such Holders; and

      

      (iv) Holders
        of more than sixty-six and 2/3 percent (662/3%)
        of the
        principal amount of the Notes do not give Trustee written notice inconsistent
        with the request delivered under Section
        6.5(a)(ii)
        prior to
        the earlier of (A) the date on which Trustee delivers a notice under
Section 6.5(a)(iii)(A)
        or (B)
        the expiration of the period described in Section 6.5(a)(iii)(B).

      

      (b) A
        Holder
        may not use this Indenture to prejudice the rights of another Holder or to
        obtain a preference or priority over another Holder.

       

      6.6 Rights
        of Holders To Receive Payment.
        

      

      (a) Notwithstanding
        any other provision of this Indenture, the right of any Holder of a Note
        to
        receive payment of principal and interest on the Note, on or after the
        respective due dates expressed in the Note, or to bring suit for the enforcement
        of any such payment on or after such respective dates, will not be impaired
        or
        affected without the consent of the Holder.

      

      (b) Nothing
        in this Indenture limits or defers the right or ability of any Holder to
        petition for commencement of a case pertaining to the Company under applicable
        Bankruptcy Law.

       

      6.7 Priorities.

      

      (a) After
        an
        Event of Default, any money or other property distributable in respect of
        the
        Company’s obligations under this Indenture will be paid in the following
        order:

      

      (i) first,
        to
        Trustee (including any predecessor Trustee) for amounts due under Section
        8.6;

      

      (ii) second,
        to
        holders of Senior Debt to the extent required by Article 11;

      

      (iii) third,
        to
        Holders for amounts due and unpaid on the Notes for principal and interest,
        ratably, without preference or priority of any kind, according to the amounts
        due and payable on the Notes for principal and interest, respectively;
        and

      

      (iv) fourth,
        to
        the
        Company.

      

      (b) The
        Trustee may fix a record date and payment date for any payment to
        Holders.

       

      
        
           

        

        
          10

          
            

          

        

        
           

        

      

      6.8 Undertaking
        for Costs.
        In any
        suit for the enforcement of any right or remedy under this Indenture or the
        Notes or in any suit against Trustee for any action taken or omitted by it
        as
        Trustee, a court in its discretion may require the filing by any party litigant
        in the suit of an undertaking to pay the costs of the suit, and the court
        in its
        discretion may assess reasonable costs, including reasonable attorneys’ fees,
        against any party litigant in the suit, having due regard to the merits and
        good
        faith of the claims or defenses made by the party litigant. This Section
        will
        not apply to a suit by Trustee, a suit by a Holder pursuant to Section 6.6,
        or a
        suit by Holders of more than ten percent (10%) in principal amount of the
        Notes.

       

      6.9 Proof
        of Claim.
        In the
        event of any Proceeding, Trustee may file a claim for the unpaid balance
        of the
        Notes in the form required in the Proceeding and cause the claim to be approved
        or allowed. Nothing contained in this Indenture will be deemed to authorize
        Trustee to authorize or consent to, or accept or adopt on behalf of, any
        Holder
        any plan of reorganization, arrangement, adjustment, or composition affecting
        the Notes or the rights of any Holder, or to authorize Trustee to vote in
        respect of the claim of any Holder in any Proceeding. 

       

      6.10 Actions
        of a Holder.
        For the
        purpose of providing any consent, waiver or instruction to the Company or
        Trustee, a “Holder” shall include a Person who provides to the Company or
        Trustee, as the case may be, an affidavit of beneficial ownership of a Note
        together with a satisfactory indemnity against any loss, liability, or expense
        to that party, to the extent that such party acts upon such affidavit of
        beneficial ownership, including any consent, waiver or instructions given
        by a
        Person providing such affidavit and indemnity.

      

      ARTICLE
        VII

      OTHER
        DISTRIBUTIONS

       

      7.1 Priorities.

      

      (a) Upon
        a
        full or partial sale of Collateral pursuant to the terms of the Security
        Agreement, Trustee will hold the proceeds thereof in a separate account for
        the
        benefit of Holders in kind, and any money or other property distributable
        in
        respect of the Company’s obligations under this Indenture will be paid in the
        following order:

      

      (i) first,
        to
        Trustee (including any predecessor Trustee) for amounts due under Section
        9.6;

      

      (ii) second,
        to
        holders of Senior Debt to the extent required by Article 11;

      

      (iii) third,
        to
        Holders for amounts due and unpaid on the Notes for Principal and interest,
        ratably, without preference or priority of any kind, according to the amounts
        due and payable on the Notes for Principal and interest, respectively;
        and

      

      (iv) fourth,
        to
        the
        Company.

      

      
        
           

        

        
          11

          
            

          

        

        
           

        

      

      (b) Any
        money
        or other property distributable arising out of foreclosure proceedings brought
        against the Company and distributable in respect of the Company’s obligations
        under this Indenture will be paid in the order noted in Section
        7.1(a)
        above.

      

      (c) The
        Trustee may fix a record date and payment date for any payment to Holders
        pursuant to this Article
        7.

       

      ARTICLE
        VIII

      TRUSTEE

      8.1 Duties
        of Trustee.

      

      (a) If
        an
        Event of Default has occurred and is continuing, Trustee will exercise those
        rights and powers vested in it by the Indenture, the Notes and the Security
        Agreement, and use the same degree of care and skill in their exercise, as
        a
        prudent person would exercise or use under the circumstances in the conduct
        of
        its own affairs, including the exercise of the remedies set forth in this
        Indenture and the Note.

      

      (b) Except
        during the continuance of an Event of Default:

      

      (i) The
        Trustee need perform only those duties that are specifically set forth in
        this
        Indenture, the Notes and the Security Agreement.

      

      (ii) In
        the
        absence of bad faith on its part, Trustee may conclusively rely upon
        certificates or opinions furnished to Trustee and conforming to the requirements
        of this Indenture, as to the truth of the statements and the correctness
        of the
        opinions expressed in those certificates and opinions. However, Trustee will
        examine the certificates and opinions to determine whether or not the
        certificates and opinions conform to the requirements of this
        Indenture.

      

      (c) The
        Trustee may not be relieved from liability for its own negligent action,
        its own
        negligent failure to act or its own willful misconduct, except
        that:

      

      (i) This
        paragraph does not limit the effect of Section
        8.1(b).

      

      (ii) Trustee
        will not be liable for any error of judgment made in good faith by a Trustee
        or
        by any agent, employee or affiliate of Trustee, unless a court of competent
        jurisdiction finds that Trustee was negligent in ascertaining the pertinent
        facts.

      

      (iii) Trustee
        will not be liable with respect to any action Trustee takes or omits to take
        in
        good faith in accordance with a direction received by Trustee pursuant to
        Section
        2.3
        or
Section 6.4.

      

      (iv) Trustee
        may refuse to perform any duty or exercise any right or power which would
        require Trustee to expend its own funds or risk any liability if Trustee
        reasonably believes that repayment of such funds or adequate indemnity against
        that risk is not reasonably assured to Trustee.

      

      
        
           

        

        
          12

          
            

          

        

        
           

        

      

      (d) Every
        provision of this Indenture that in any way relates to Trustee is subject
        to
Section
        8.1(a),
        (b)
        and
(c).

      

      (e) The
        Trustee will not be liable for interest on any money received by Trustee,
        except
        as Trustee may agree with the Company. The Trustee is not required to segregate
        money in trust from other funds, except to the extent required by this Indenture
        or as may be otherwise required by law.

       

      8.2 Rights
        of Trustee.

      

      (a) Except
        as
        set forth in Section
        8.1(b),
        the
        Trustee may rely on any document believed by Trustee to be genuine and to
        have
        been signed or presented by the proper Person. The Trustee is not required
        to
        investigate any fact or matter stated in the document.

      

      (b) Before
        Trustee acts or refrains from acting, Trustee may require a certificate from
        an
        Officer of the Company or an opinion of counsel. The Trustee shall not be
        liable
        for any action it takes or omits to take in good faith in reliance on such
        certificate or opinion. The Trustee may also consult with counsel on any
        matter
        relating to this Indenture or the Notes. The Trustee shall not be liable
        for any
        action Trustee takes or omits to take in good faith in reliance on the advice
        of
        counsel.

      

      (c) The
        Trustee may act through agents and will not be responsible for the misconduct
        or
        negligence of any agent appointed with due care.

      

      (d) The
        Trustee will not be liable for any action Trustee takes or omits to take
        in good
        faith which Trustee believes to be authorized or within Trustee’s rights or
        powers.

      

      (e) Trustee
        will only be charged with knowledge of agents, officers, employees or other
        affiliates of Trustee.

       

      8.3 Individual
        Rights of Trustee; Disqualification.
        Trustee
        in its individual or any other capacity may become the owner or pledgee of
        Notes
        and may otherwise deal with the Company or an Affiliate with the same rights
        Trustee would have if it were not Trustee.

       

      8.4 Trustee’s
        Disclaimer.
        Trustee
        will have no responsibility for the validity or adequacy of this Indenture,
        the
        Security Agreement or the Notes. The Trustee will not be accountable for
        the
        Company’s use of the proceeds from the Notes. The Trustee will not be
        responsible for the accuracy or completeness of any statement of fact in
        the
        Security Agreement or the Notes.

       

      8.5 Compensation
        and Indemnity.

      

      (a) The
        Company will pay to Trustee from time to time reasonable compensation for
        Trustee’s services. The Trustee’s compensation will not be limited by any law on
        compensation of a trustee of an express trust. The Company will reimburse
        Trustee upon request for all reasonable out-of-pocket expenses incurred by
        Trustee. Those expenses will include the reasonable compensation and
        out-of-pocket expenses of Trustee’s agents and counsel.

      

      
        
           

        

        
          13

          
            

          

        

        
           

        

      

      (b) The
        Company will indemnify Trustee against any loss, liability or expense incurred
        by Trustee. The Trustee will notify the Company promptly of any claim for
        which
        Trustee may seek indemnity. The Company shall defend the claim and Trustee
        shall
        cooperate in the defense. The Trustee may have separate counsel and the Company
        will pay the reasonable fees and expenses of such counsel. The Company need
        not
        pay for any settlement made without the Company’s consent, which consent shall
        not unreasonably be withheld.

      

      (c) The
        Company need not reimburse any expense or indemnify against any loss or
        liability incurred by Trustee through gross negligence, willful misconduct,
        or
        bad faith.

      

      (d) To
        secure
        the Company’s payment obligations in this Section
        8.5,
        Trustee
        will have a lien prior to the Notes on all money or property held or collected
        by Trustee, except any money held in trust to pay principal and interest
        on any
        Note(s).

      

      (e) Without
        prejudice to its rights under this Indenture, when Trustee incurs expenses
        or
        renders services after an Event of Default relating to the following, the
        expenses and the compensation for the services are intended to constitute
        expenses of administration under any Bankruptcy Law when:

      

      (i) the
        Company pursuant to, or within the meaning of, any Bankruptcy Law:

      

      (A) commences
        a voluntary case;

      

      (B) consents
        to the entry of an order for relief against the Company in an involuntary
        case;

      

      (C) consents
        to the appointment of a Custodian of the Company or for all or substantially
        all
        of the Company’s property; or

      

      (D) makes
        a
        general assignment for the benefit of the Company’s creditors; or

      

      (ii) a
        court
        of competent jurisdiction enters an order or decree under any Bankruptcy
        Law
        that:

      

      (A) is
        for
        relief against the Company in an involuntary case,

      

      (B) appoints
        a Custodian of the Company or for all or substantially all of the Company’s
        property, or

      

      (C) orders
        the liquidation of the Company, and the order or decree remains unstayed
        and in
        effect for sixty (60) days.

       

      
        
           

        

        
          14

          
            

          

        

        
           

        

      

      8.6 Replacement
        of Trustee.

      

      (a) A
        resignation or removal of Trustee and appointment of a successor Trustee
        will
        become effective only upon the successor Trustee’s acceptance of appointment as
        provided in this Section
        9.6.

      

      (b) The
        Trustee may resign by notifying the Company. The Holders of at least sixty-six
        and 2/3 percent (662/3%)
        of the
        principal amount of outstanding Notes may remove Trustee by notifying Trustee
        and the Company. The Company may remove Trustee if:

      

      (i) Trustee
        fails to comply with Section 8.7;

      

      (ii) Trustee
        is adjudged bankrupt or insolvent;

      

      (iii) a
        receiver or public officer takes charge of Trustee or its property;
        or

      

      (iv) Trustee
        becomes incapable of acting.

      

      (c) If
        Trustee resigns or is removed or if a vacancy exists in the office of Trustee
        for any reason, the Company will promptly appoint a successor
        Trustee.

      

      (d) If
        a
        successor Trustee is not appointed and does not take office within thirty
        (30)
        days after the retiring Trustee resigns or is removed, the retiring Trustee
        may
        appoint a successor Trustee at any time prior to the date on which a successor
        Trustee takes office. If a successor Trustee does not take office within
        forty-five (45) days after the retiring Trustee resigns or is removed, the
        retiring Trustee, the Company or, subject to Section 6.8,
        any
        Holder may petition any court of competent jurisdiction for the appointment
        of a
        successor Trustee.

      

      (e) If
        Trustee fails to comply with Section 8.7,
        any
        Holder may petition any court of competent jurisdiction for the removal of
        Trustee and the appointment of a successor Trustee. Within one (1) year after
        a
        successor Trustee appointed by the Company or a court pursuant to this
Section 8.6
        takes
        office, the Holders of at least sixty-six and 2/3 percent (662/3%)
        of the
        principal amount of outstanding Notes may appoint a successor Trustee to
        replace
        such successor Trustee.

      

      (f) A
        successor Trustee will deliver a written acceptance of the appointment to
        the
        retiring Trustee and to the Company. Upon receipt of the acceptance by the
        Company, the resignation or removal of the retiring Trustee will become
        effective, and the successor Trustee will have all the rights, powers, and
        duties of Trustee under this Indenture. The successor Trustee shall mail
        a
        notice of its succession to the Holders. The retiring Trustee will promptly
        transfer all property held by that retiring Trustee as Trustee to the successor
        Trustee, subject to the lien provided for in Section
        8.5.

       

      8.7 Successor
        Trustee by Merger, etc.
        If
        Trustee consolidates, merges or converts into, or transfers all or substantially
        all of its corporate trust business to, another corporation, the successor
        corporation without any further act will be the successor Trustee.

       

      
        
           

        

        
          15

          
            

          

        

        
           

        

      

      ARTICLE
        IX

      SATISFACTION
        AND DISCHARGE

       

      9.1 Satisfaction
        and Discharge of Indenture.

      

      (a) This
        Indenture shall cease to be of further effect (except as to any surviving
        rights
        of conversion, registration of transfer or exchange of Notes expressly provided
        for herein), and Trustee, on demand of and at expense of the Company, shall
        execute proper instruments acknowledging satisfaction and discharge of this
        Indenture, when

      

      (i) Either

      

      (A) all
        Notes
        theretofore delivered (other than Notes for whose payment money has theretofore
        been deposited in trust or segregated and held in trust by the Company and
        thereafter repaid to the Company or discharged from such trust, as provided
        in
Section 9.4)
        have
        been delivered to Trustee for cancellation; or

      

      (B) all
        such
        Notes not theretofore delivered to Trustee for cancellation (i) have become
        due
        and payable, (ii) will become due and payable at their stated maturity within
        one (1) year, or (iii) are to be called for redemption within one (1) year
        under
        arrangements satisfactory to Trustee for the giving of notice of redemption
        by
        Trustee in the name, and at the expense, of the Company, and the Company
        has
        deposited or caused to be deposited with Trustee in trust an amount of money
        or
        U.S. Government Obligations sufficient to pay and discharge the entire
        indebtedness on such Notes not theretofore delivered to Trustee for
        cancellation, for principal and interest to the date of such deposit (in
        the
        case of Notes which have become due and payable) or to the stated maturity
        or
        redemption date, as the case may be;

      

      (ii) the
        Company has paid or caused to be paid all other sums payable hereunder by
        the
        Company; and

      

      (iii) the
        Company has delivered to Trustee a certificate of an Officer of the Company
        and
        a legal opinion from Company counsel, each stating that all conditions precedent
        herein relating to the satisfaction and discharge of this Indenture have
        been
        complied with.

      

      (b) Notwithstanding
        the satisfaction and discharge of this Indenture, the obligations of the
        Company
        to the Holders under Section 4.1,
        to
        Trustee under Section
        8.5,
        and, if
        money or U.S. Government Obligations shall have been deposited with
        Trustee
        pursuant to Section
        9.1(a)(i)(B)
        of this
        Section, the obligations of Trustee under Section 9.2
        shall
        survive.

       

      9.2 Application
        of Trust Funds.
        The
        Trustee or Paying Agent shall hold in trust, for the benefit of the Holders,
        all
        money and U.S. Government Obligations deposited with it (or into which
        such
        money and U.S. Government Obligations are reinvested) pursuant to
        Section 9.1.
        It
        shall apply such deposited money and money from U.S. Government Obligations
        in accordance with this Indenture to the payment of the principal and interest
        on the Notes. Money and U.S. Government Obligations so held in trust
        (a) are not subject to Article 11
        and
        (b) are subject to Trustee’s rights under Section
        8.5.

       

      
        
           

        

        
          16

          
            

          

        

        
           

        

      

      9.3 Reinstatement.
        If
        Trustee or Paying Agent is unable to apply any money or U.S. Obligations
        in
        accordance with Section 9.1
        by
        reason of any order or judgment of any court or governmental authority
        enjoining, restraining or otherwise prohibiting such application, then the
        Company’s obligations under this Indenture and the Notes will be revived and
        restated as though no deposit had occurred pursuant to this Article 9,
        until
        such time as Trustee or Paying Agent is permitted to apply all such money
        or
        U.S. Government Obligations in accordance with Section 9.1;
        provided,
        however,
        that if
        the Company makes any payment of principal of, or interest on, any Note
        following the reinstatement of its obligations, the Company will be subrogated
        to the rights of the Holders of such Notes to receive such payment from the
        money or U.S. Government Obligations held by Trustee or Paying Agent
        after
        payment in full to the Holders.

       

      9.4 Repayment
        to Company.

      

      (a) The
        Trustee and Paying Agent shall promptly turn over to the Company upon request
        any excess money or U.S. Government Obligations held by them at any
        time.
        All money or U.S. Government Obligations deposited with Trustee pursuant
        to
Section 9.1
        (and
        held by it or a Paying Agent) for the payment of Notes subsequently redeemed
        or
        cancelled will be returned to the Company upon request. 

      

      (b) The
        Trustee and the Paying Agent shall pay to the Company upon request any money
        held by them for payment of principal or interest that remains unclaimed
        for two
        (2) years after the right to such money has matured. After payment to the
        Company, Holders entitled to the money shall look to the Company for payment
        as
        unsecured general creditors unless an abandoned property law designates another
        Person.

       

      ARTICLE
        X

      AMENDMENTS

       

      10.1 Without
        Consent of Holders.
        The
        Company and Trustee may amend this Indenture or the Notes without the consent
        of
        any Holder:

      

      (a) to
        cure
        any ambiguity, defect or inconsistency;

      

      (b) to
        comply
        with Section 4.1;
        or

      

      (c) to
        make
        any change that does not adversely affect the rights of any Holder.

       

      10.2 With
        Consent of Holders.

      

      (a) The
        Company and Trustee may amend this Indenture with the written consent of
        the
        Holders of at least sixty-six and 2/3 percent (662/3%)
        of the
        principal amount of outstanding Notes. However, without the consent of each
        Holder affected, an amendment under this Section may not:

      

      (i) reduce
        the amount of Notes whose Holders must consent to an amendment;

      

      
        
           

        

        
          17

          
            

          

        

        
           

        

      

      (ii) reduce
        the interest on or change the time for payment of interest on any
        Note;

      

      (iii) reduce
        the principal of or change the fixed maturity of any Note;

      

      (iv) reduce
        the premium payable upon the redemption of any Note or
        change
        the time at which any Note may or will be redeemed;

      

      (v) make
        any
        Note payable in money other than of the type stated in the Note;

      

      (vi) make
        any
        change to Section 6.5
        or this
Section 10.2;
        or

      

      (vii) make
        any
        change to Article 11
        that
        adversely affects the rights of any Holder.

      

      (b) The
        consent of the Holders under this Section will not be necessary to approve
        the
        particular form of any proposed amendment, but will be sufficient if that
        consent approves the substance of that amendment.

      

      (c) An
        amendment under this Section
        10.2
        may not
        make any change that adversely affects the rights under Article 11
        of any
        Senior Debt unless the holder(s) of such Senior Debt consent(s) to the
        change.

       

      10.3 Compliance
        with Trust Indenture Act and Section 12.3.
        Every
        amendment to this Indenture or the Notes shall comply with the TIA as then
        in
        effect, so long as the Indenture and Notes are subject to the TIA. The Trustee
        is entitled to, and the Company will provide, an opinion of counsel and a
        certificate of an Officer of the Company pursuant to Section
        12.3
        that
        Trustee’s execution of any amendment or supplemental indenture is permitted
        under this Article 10.

       

      10.4 Revocation
        and Effect of Consents and Waivers.

      

      (a) A
        consent
        to an amendment or a waiver by a Holder of a Note will bind the Holder and
        every
        subsequent Holder of that Note or portion of the Note that evidences the
        same
        debt as the consenting Holder’s Note, even if a notation of the consent or
        waiver is not made on the Note.

      

      (b) The
        Company may, but shall not be obligated to, fix a record date for the purpose
        of
        determining the Holders entitled to give their consent or take any other
        action
        described above or required or permitted to be taken pursuant to this Indenture.
        If a record date is fixed, then notwithstanding the immediately preceding
        paragraph, those Persons who were Holders at such record date (or their duly
        designated proxies), and only those Persons, will be entitled to give such
        consent or to revoke any consent previously given or take any such action,
        whether or not such Persons continue to be Holders after such record date.
        No
        consent will be valid or effective for more than one hundred twenty (120)
        days
        after the record date.

       

      
        
           

        

        
          18

          
            

          

        

        
           

        

      

      10.5 Notice
        of Amendment; Notation on or Exchange of Notes.

      

      (a) After
        any
        amendment under this Article
        10
        becomes
        effective, the Company will mail to the Holders a notice briefly describing
        that
        amendment. The failure to give notice to all Holders, or any defect in that
        notice, will not impair or affect the validity of an amendment under this
        Article
        10.

      

      (b) The
        Company or Trustee may place an appropriate notation about an amendment or
        waiver on any Note issued after the date of that amendment or waiver. The
        Company may issue in exchange for affected Notes new Notes that reflect the
        amendment or waiver.

       

      10.6 Trustee
        Protected.
        The
        Trustee need not sign any supplemental indenture that adversely affects that
        Trustee’s rights.

       

      ARTICLE
        XI

      SUBORDINATION

       

      11.1 Notes
        Subordinated to Senior Debt.
        Except
        for the rights of Holders to the Collateral described in the Security Agreement,
        which is a first priority security interest in such Collateral, the rights
        of
        Holders to payment of the principal of and interest on the Notes is subordinated
        to the rights of holders of Senior Debt, to the extent and in the manner
        provided in this Article 11
        and the
        Notes.

       

      11.2 Notes
        Subordinated in Any Proceeding.
        In the
        event that any Distribution in any Proceeding is received by Trustee before
        all
        Senior Debt is paid in full, such Distribution will be applied by Trustee
        in
        accordance with this Article 11.
        As used
        in this Article
        11,
        “Trustee” includes any Paying Agent.

       

      11.3 No
        Payment on Notes in Certain Circumstances.

      

      (a) The
        Company shall not, directly or indirectly (other than in capital stock of
        the
        Company) pay any principal of or interest on, redeem, defease or repurchase
        the
        Notes except as provided in the Notes.

      

      (b) If
        any
        Distribution, payment or deposit to redeem, defease or acquire any of the
        Notes
        shall have been received by Trustee at a time when such Distribution was
        prohibited by the provisions of Section 11.3(a),
        then,
        unless such Distribution is no longer prohibited by Section 11.3(a),
        such
        Distribution will be received and applied by Trustee for the benefit of the
        holders of Senior Debt, and will be paid or delivered by Trustee to the holders
        of Senior Debt for application to the payment of all Senior Debt, pursuant
        to
        the terms of the Notes and (i) the Wachovia Agreements, in the case of Wachovia,
        and (ii) the applicable Senior Debt agreement(s), in the case of other holders
        of Senior Debt.

       

      11.4 Obligations
        of the Company Unconditional.
        Nothing
        in this Indenture is intended to or shall impair, as between the Company
        and the
        Holders, the obligation of the Company, which is absolute and unconditional,
        to
        pay to the Holders the principal of and interest on the Notes as and when
        the
        same will become due and payable in accordance with their terms, or is intended
        to or shall affect the relative rights of the Holders and creditors of the
        Company, other than the holders of Senior Debt. If the Company fails because
        of
        this Article
        11
        to pay
        principal of or interest on a Note on the due date, the failure is still
        a
        Default. Upon any Distribution, Trustee and the Holders will be entitled
        to rely
        upon any order or decree made by any court of competent jurisdiction in which
        the Proceeding is pending, or a certificate of the liquidating trustee or
        agent
        or other Person making any Distribution for the purpose of ascertaining the
        Persons entitled to participate in such Distribution, the holders of Senior
        Debt
        and other Debt of the Company, the amount thereof or payable thereon, the
        amount
        or amounts paid or distributed thereon and all other facts pertinent thereto
        or
        to this Article
        11.

       

      
        
           

        

        
          19

          
            

          

        

        
           

        

      

      11.5 Trustee
        Entitled to Assume Payments Not Prohibited in Absence of Notice. The
        Trustee shall not at any time be charged with knowledge of the existence
        of any
        facts which would prohibit the making of any payment to or by Trustee, unless
        and until Trustee shall have received, no later than three (3) Business Day(s)
        prior to such payment, written notice thereof from the Company or from one
        or
        more holders of Senior Debt (or shall have expressly declared in writing
        actual
        knowledge of such fact) and, prior to the receipt of any such written notice
        (or
        the existence of such declaration), Trustee will be entitled in all respects
        conclusively to presume that no such fact exists. Unless Trustee shall have
        received the notice provided for in the preceding sentence or shall have
        expressly declared in writing actual knowledge of such fact, Trustee shall
        have
        full power and authority to receive such payment and to apply the same to
        the
        purpose for which it was received, and shall not be affected by any notice
        to
        the contrary which may be received by it on or after such date. The foregoing
        shall not apply to the Company or any of its Affiliates acting as Paying
        Agent.

       

      11.6 Satisfaction
        and Discharge.
        Amounts
        deposited in trust with Trustee pursuant to and in accordance with Article
        9
        and not
        prohibited to be deposited under Section 11.3(a)
        when
        deposited shall not be subject to this Article 11.

       

      11.7 Subordination
        Rights Not Impaired by Acts or Omissions of the Company or Holders of Senior
        Debt.
        No
        right of any holder of any Senior Debt established in this Article 11
        shall at
        any time or in any way be prejudiced or impaired by any act or failure to
        act on
        the part of the Company or by any act or failure to act, in good faith, by
        any
        such holder, or by any failure by the Company to comply with the terms of
        this
        Indenture.

       

      11.8 No
        Fiduciary Duty of Trustee or Holders to Holders of Senior Debt.
        Neither
        Trustee nor the Holders owes any fiduciary duty to the holders of Senior
        Debt.
        Neither Trustee nor the Holders will be liable to any holder of Senior Debt
        in
        the event that Trustee, acting in good faith, shall pay over or distribute
        to
        the Holders, the Company, or any other Person, any property to which any
        holders
        of Senior Debt are entitled by virtue of this Article
        11
        or
        otherwise. Nothing contained in this Section 11.8
        shall
        affect the obligation of any other such Person to hold such payment for the
        benefit of, and to pay such payment over to, the holders of Senior
        Debt.

       

      11.9 Trustee’s
        Rights to Compensation, Reimbursement of Expenses and
        Indemnification.
        The
        Trustee’s rights to compensation, reimbursement of expenses and indemnification
        under Sections 6.6
        and
8.5
        are not
        subordinated.

       

      11.10 Exception
        for Certain Distributions.
        The
        rights of holders of Senior Debt under this Article
        11
        do not
        extend (a) to any Distribution to the extent applied to Trustee’s rights to
        compensation, reimbursement of expenses or indemnification or (b) to
        Distributions under any plan approved by the court in any
        Proceeding.

       

      
        
           

        

        
          20

          
            

          

        

        
           

        

      

      ARTICLE
        XII

      MISCELLANEOUS

       

      12.1 Notices.

      

      (a) Any
        notice or communication is duly given if in writing and delivered in person
        or
        sent by first-class mail (registered or certified, return receipt requested),
        facsimile or overnight air courier guaranteeing next-day delivery, addressed
        as
        follows:

      

      If
        to the
        Company:

      

      Streicher
        Mobile Fueling, Inc.

      800
        West
        Cypress Creek Road, Suite 580

      Ft.
        Lauderdale, Florida 33309

      Attn:
        Richard E. Gathright

      Ph:
        954-308-4200

      Fax:
        954-308-4210

      

      If
        to the
        Trustee:

      

      __________________________

      __________________________

      __________________________

      Attention:
        ________________

      Ph:
        __________

      Fax:
        _________

      

      The
        Company or the Trustee by notice to the other may designate additional or
        different addresses for subsequent notices or communications.

      

      (b) All
        notices and communications (other than those sent to Holders) shall be deemed
        to
        have been duly given: at the time delivered by hand, if personally delivered;
        five (5) business days after being deposited in the mail, postage prepaid,
        if
        mailed; when receipt acknowledged, if faxed; and the next business day after
        timely delivery to the courier, if sent by overnight air courier guaranteeing
        next-day delivery.

      

      (c) Any
        notice or communication to a Holder shall be mailed by first-class mail to
        such
        Holder’s address shown on the register kept by the Registrar. Failure to mail a
        notice or communication to a Holder or any defect in it shall not affect
        its
        sufficiency with respect to other Holders. If the Company mails a notice
        or
        communication to Holders, it shall mail a copy to the Trustee at the same
        time.

      

      (d) If
        a
        notice or communication is mailed in the manner provided above within the
        time
        prescribed, it is duly given, whether or not the addressee receives
        it.

       

      
        
           

        

        
          21

          
            

          

        

        
           

        

      

      12.2 Communication
        by Holders with Other Holders.
        Holders
        may communicate with other Holders with respect to their rights under this
        Indenture, the Note or the Securities Purchase Agreement.

       

      12.3 Certificate
        and Opinion as to Conditions Precedent.
        Upon
        any request or application by the Company to Trustee to take any action under
        this Indenture, the Company shall furnish to Trustee:

      

      (a) a
        certificate of an Officer of the Company stating that, to the knowledge of
        such
        Officer, all conditions precedent, if any, provided for in this Indenture
        relating to the proposed action have been complied with; and

      

      (b) an
        opinion of counsel to the Company stating that, in the opinion of such counsel,
        all such conditions precedent have been complied with.

       

      12.4 Statements
        Required in Certificate or Opinion. Each
        certificate or opinion with respect to compliance with a condition or covenant
        provided for in this Indenture shall include:

      

      (a) a
        statement that each Person making such certificate or opinion has read such
        covenant or condition; 

      

      (b) a
        brief
        statement as to the nature and scope of the examination or investigation
        upon
        which the statements or opinions contained in such certificate or opinion
        are
        based;

      

      (c) a
        statement that, in the opinion of such Person, the Person has made such
        examination or investigation as is necessary to enable such Person to express
        an
        informed opinion as to whether or not such covenant or condition has been
        complied with; and

      

      (d) a
        statement as to whether or not, in the opinion of such Person, such condition
        or
        covenant has been complied with.

       

      12.5 Rules
        by Trustee. The
        Trustee may make reasonable rules for action by or a meeting of
        Holders.

       

      12.6 No
        Recourse Against Others. A
        director, officer, employee or stockholder, as such, of the Company shall
        not
        have any liability for any obligations of the Company under the Notes or
        the
        Indenture or for any claim based on, in respect of or by reason of such
        obligations or their creation.

       

      12.7 Variable
        Provisions.

      

      (a) The
        Company will initially act as Paying Agent.

      

      (b) The
        first
        certificate pursuant to Section 4.3
        will be
        for the fiscal year ending on June 30, 2006.

      

      (c) The
        depositary institution into which Trustee or Paying Agent deposits any funds
        held under this Indenture shall always have a combined capital and surplus
        of at
        least $50,000,000 as set forth in its most recent published annual report
        of
        condition. The Trustee and Paying Agent will be deemed to be in compliance
        with
        the capital and surplus requirement set forth in the preceding sentence if
        the
        obligations of such depositary institution are guaranteed by a Person which
        could otherwise qualify as such depositary institution hereunder.

       

      
        
           

        

        
          22

          
            

          

        

        
           

        

      

      12.8 Governing
        Law. The
        laws
        of the State of Florida shall govern this Indenture, without regard to the
        conflicts of laws of that state.

       

      12.9 Severability.
        In case
        any provision in this Indenture or in the Notes shall be invalid, illegal
        or
        unenforceable, the validity, legality and enforceability of the remaining
        provisions shall not in any way be affected or impaired thereby.

       

      12.10 Effect
        of Headings, Table of Contents, etc. The
        Article and Section headings herein and the table of contents are for
        convenience only and shall not affect the construction hereof.

       

      12.11 Counterparts;
        Facsimile. This
        Indenture may be executed in two or more counterparts, each of which shall
        be
        deemed to be an original but all of which taken together shall constitute
        one
        agreement. Signatures to this Indenture may be transmitted by facsimile and
        such
        transmission shall be deemed to be an original.

       

      12.12 Successors
        and Assigns.
        All
        covenants and agreements of the Company in this Indenture and the Notes shall
        bind its successors and assigns. All agreements of the Trustee in this Indenture
        shall bind its successor.

       

      12.13 No
        Interpretation of Other Agreements.
        This
        Indenture may not be used to interpret another indenture, loan or debt agreement
        of the Company or any Subsidiary. Any such indenture, loan or debt agreement
        may
        not be used to interpret this Indenture.

      

      [Signature
        page follows.]

      

      
        
           

        

        
          23

          
            

          

        

        
           

        

      

      IN
        WITNESS WHEREOF, the parties hereto have caused this Indenture to be executed
        by
        their respective duly authorized officers or persons as of the date first
        set
        forth above.

      

      
        	 	 	 
	 	
                COMPANY:

                

                Streicher
                  Mobile Fueling, Inc.

              
	 
 	 
 	 
 
	 	By:  	 
	 	
                
Richard
                E. Gathright, President and
	 	Chief
                Executive Officer
	 	 
	 	 
	 	
                TRUSTEE:

                [_____________________________]

                

                

                By:
                  ___________________________________________

                Name:
                  

                Title:

                

                

                By:
                  ___________________________________________

                Name:

                Title:

              

      
        
           

        

        
          24Exhibit
        10.6

      SECURITY
        AGREEMENT

      

      THIS
        SECURITY AGREEMENT (this
        “Security
        Agreement”)
        dated
        ___________, 2005 is entered into by and between Streicher Mobile Fueling,
        Inc.
        (“Streicher”),
        a
        Florida corporation having its principal place of business at 800 W. Cypress
        Creek Road, Suite 580, Fort Lauderdale, Florida 33309, ____________, a wholly
        owned Subsidiary of Streicher (“_____”),
        having its principal place of business at ________________________ and
        [_________________, a _________________ corporation located at
        _________________, ____________, _______________ ______ (the “Trustee”),
        as
        indenture trustee for the holders (the “Holders”)
        of
        Streicher’s 10%
        Senior Secured Notes due September 1, 2010
        (the
“Notes”)
        pursuant to an indenture between Company and Trustee of even date herewith
        (the
“Indenture”).
        Streicher and Subsidiary taken together are referred to herein as the
“Company.”

      

      WHEREAS,
        Streicher
        acquired the business of Subsidiary effective as of ___________,
        2005;

      

      WHEREAS,
        Company
        wishes to grant to the Trustee, for the benefit of Holders, a first priority
        security interest in certain assets
        acquired from Subsidiary,
        as
        hereinafter enumerated, to secure the Notes; and

      

      WHEREAS,
        Streicher
        and Wachovia Bank, National Association, successor by merger to Congress
        Financial Corporation (Florida) (“Wachovia”)
        are
        parties to that certain Loan and Security Agreement by and between Streicher
        and
        Wachovia, dated September 26, 2002, as amended (the “Wachovia
        Agreement”)
        and,
        along with certain other persons, a Subordination Agreement effective as
        of
        January 21, 2003 (the “Subordination
        Agreement”).

      

      NOW,
        THEREFORE, in
        consideration of the foregoing premises and to induce Holders to purchase
        the
        Notes, Streicher and Subsidiary hereby agree as follows:

      

      SECTION
        1. DEFINITIONS.
        As used
        herein, the following terms shall have the following meanings, and shall
        be
        equally applicable to both the singular and plural forms of
        the
        terms defined:

      

      “Applicable
        Law”
        shall
        mean the laws of the State of Texas (or any other jurisdiction whose laws
        are
        required by law to be applicable notwithstanding the parties’ choice of Texas
        law) or the laws of the United States of America, whichever laws allow the
        greater interest,
        as such laws now exist or may be changed or amended or come into effect in
        the
        future.

      

      “Business
        Day”shall
        mean any day other than a Saturday, Sunday or public holiday or the equivalent
        for banks in Texas. 

      

      “Equipment”shall
        have the meaning given to it in the UCC.

      

      “Event
        of Default”
        shall
        mean any event specified in Section 6
        hereof.

      

      “GAAP” shall
        mean generally accepted accounting principles in the United States of America,
        as in effect from time to time.

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      “Loan
        Documents”
        shall
        mean, collectively, this Security Agreement, the Notes Purchase Agreement
        between Holders and Streicher of even date herewith (the “Notes
        Purchase Agreement”)
        evidencing the sale of the Notes and the warrants to purchase common stock
        of
        Streicher (the “Warrants”),
        the
        Indenture, the Notes, the Warrants and all other documents,
        agreements,
        certificates,
        instruments and opinions executed and delivered in connection therewith,
        as the
        same may be modified, extended, restated or supplemented from time to
        time.

      

      “Material
        Adverse Change”
        shall
        mean, with respect to any Person, a material adverse change in the business,
        operations, results of operations, assets, liabilities or condition (financial
        or otherwise) of such Person taken as a whole.

      

      “Material
        Adverse Effect”
        shall
        mean, with respect to any Person, a material adverse effect on the business,
        operations, results of operations, assets, liabilities or condition (financial
        or otherwise) of such Person taken as a whole.

      

      “Obligations”
        shall
        mean all indebtedness, obligations and liabilities of Company under the Notes
        and this Security Agreement, whether on account of principal, interest,
        indemnities, fees (including, without limitation, attorneys’ fees, marketing
        fees, origination fees, collection fees and all other professionals’ fees),
        costs, expenses, taxes or otherwise.

      

      “Person”
        shall
        mean any individual, sole proprietorship, partnership, joint venture, trust,
        unincorporated organization, association, corporation,
        institution,
        entity, party or government (including any division, agency or department
        thereof), and the successors, heirs and assigns of each.

      

      “UCC”
        means
        the Uniform Commercial Code as from time to time in effect in the State of
        Texas; provided, however, that in the event that, by reason of mandatory
        provisions of law, any or all of the attachment, perfection or priority of
        the
        Secured Parties’ security interest in any Collateral is governed by the Uniform
        Commercial Code as in effect in a jurisdiction other than the State of Texas,
        the term “UCC’ shall mean the Uniform Commercial Code as in effect in such other
        jurisdiction for purposes of the provisions hereof relating to such attachment,
        perfection or priority and for purposes of definitions related to such
        provisions; provided, further, that if the UCC is amended after the date
        hereof,
        such amendment will not be given effect for the purposes of this Agreement
        if
        and to the extent the result of such amendment would be to limit or eliminate
        any item of Collateral.

      

      “Vehicles”
        means
        all vehicles covered by a certificate of title law of any state.

       

      SECTION
        2. CREATION
        OF SECURITY INTEREST; COLLATERAL.
        Company
        hereby assigns and grants to Holders a continuing general, first priority
        lien
        on and security interest in, all of Subsidiary’s right, title and interest in
        and to [(i) the Vehicles listed on Schedule A
        hereto,
        including future additions, parts, accessories, attachments, substitutions,
        repairs, related intangibles and improvements and replacements to or of any
        listed Vehicle, (ii) the Equipment
        listed
        on Schedule
        A
        hereto,
        including future additions, parts, accessories, attachments, substitutions,
        repairs, related intangibles and improvements and replacements to or of any
        such
        Equipment, (iii) the intangible assets listed on Schedule
        A
        hereto
        (the foregoing being collectively referred to as the “Collateral”)
        to
        secure the payment and performance of all the Obligations.]

      

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

      SECTION
        3. COMPANY’S
        REPRESENTATIONS AND WARRANTIES.
        Streicher
        and Subsidiary jointly and severally represent and warrant to Holders as
        follows:

      

      SECTION
        3.1 Good
        Standing; Qualified to do Business.
        Streicher is a duly organized and validly existing corporation in good standing
        under the laws of the State of Florida. Subsidiary is a duly organized and
        validly existing corporation in good standing under the laws of the State
        of
        _________. Company has the power and authority to own its properties and
        assets
        and to transact the businesses in which it is presently, or proposes to be,
        engaged and is duly qualified and authorized to do business and is in good
        standing in every jurisdiction in which the failure to be so qualified could
        have a Material Adverse Effect on (i) Company, (ii) Company’s ability
        to perform its obligations under the Loan Documents or (iii) the rights
        of
        Holders or the Trustee under this Agreement.

      

      SECTION
        3.2 Due
        Execution, etc.
        The
        execution, delivery and performance by Company of each of the Loan Documents
        to
        which it is a party are within the powers of the Company, do not contravene
        its
        Articles of Incorporation or Certificate of Formation, as applicable, or
        Bylaws
        or Operating Agreement, as applicable, and do not (i) violate any
        law or
        regulation, or any order or decree of any court or governmental authority,
        (ii) conflict with or result in a breach of, or constitute a default
        under,
        any material indenture, mortgage or deed of trust or any material lease,
        agreement or other instrument binding on Company or any of its properties,
        or
        (iii) require the consent, authorization by or approval of or notice
        to, or
        filing or registration with, any governmental authority or other Person except
        for Wachovia, a majority of the holders of Streicher’s 10% senior secured notes
        totaling in the aggregate $6.925 million and due on August 28, 2008, and
        the
        holders of Streicher’s 10% senior secured notes totaling in the aggregate $6.1
        million and due on January 24, 2005. This Security Agreement is, and each
        of the
        other Loan Documents to which Company is or will be a party when delivered
        will
        be, the legal, valid and binding obligation of Company enforceable against
        Company in accordance with its terms.

      

      SECTION
        3.3 Solvency;
        No Liens. On the
        date
        hereof, Company is solvent, is paying its debts as they become due and has
        sufficient capital to conduct its business; the security interests granted
        herein constitute and shall at all times constitute the first and only liens
        on
        the Collateral; and Subsidiary is, or will be at the time such Collateral
        is
        acquired by it, the absolute owner of the Collateral with full right to pledge,
        sell, consign, transfer and create a security interest therein, free and
        clear
        of any and all claims or liens in favor of any other Person. 

      

      SECTION
        3.4 No Judgments,
        Litigation. No
        judgments are outstanding against Company nor is there now pending or, to
        the
        best of Company’s knowledge after diligent inquiry, threatened any litigation,
        contested claim, or governmental proceeding by or against Company except
        judgments and pending or threatened litigation, contested claims and
        governmental proceedings which would not, in the aggregate, have a Material
        Adverse Effect on Company.

      

      
        
           

        

        
          3

          
            

          

        

        
           

        

      

      SECTION
        3.5 No Defaults.
        On
        the
        date hereof, Company is not in material default under any material contract,
        lease, or commitment to which it is a party or by which it is bound. Company
        knows of no dispute regarding any contract, lease, or commitment which could
        have a Material Adverse Effect on Company.

      

      SECTION
        3.6 Collateral
        and Operating Locations. On
        the
        date hereof, the Collateral (other than mobile goods and Equipment in transit)
        are kept at the locations listed on Schedule
        B
        hereto,
        and the Company is conducting operations from those locations listed on
Schedule
        C
        hereto.

      

      SECTION
        3.7 No Events
        of Default. No
        Event
        of Default has occurred and is continuing nor has any event occurred which,
        with
        the giving of notice or the passage of time, or both, would constitute an
        Event
        of Default.

      

      SECTION
        3.8 No
        Limitation on Holders’ Rights. Except
        as
        permitted herein, none of the Collateral is subject to contractual obligations
        that may restrict or inhibit Holders’ or Trustee’s rights or abilities to sell
        or dispose of the Collateral or any part thereof after the occurrence of
        an
        Event of Default.

      

      SECTION
        3.9 Perfection
        and Priority of Security Interest.
        This
        Security Agreement creates a valid and, upon completion of all required filings
        of financing statements, perfected, first priority and exclusive security
        interest in the Collateral, securing the payment of all the
        Obligations.

      

      SECTION
        3.10 Identifying
        Information. Schedule A
        hereto
        sets forth the true and correct model number and serial number, vehicle
        identification number or other identifying information of each item of
        Collateral.

      

      SECTION
        4. COVENANTS
        OF THE COMPANY.

      

      SECTION
        4.1 Existence,
        etc. Company
        will (i) maintain its existence and its current yearly accounting cycle,
        (ii)
        maintain in full force and effect all licenses, bonds, franchises, leases,
        trademarks, patents, contracts and other rights necessary or desirable to
        the
        prudent conduct of its business, (iii) continue in the same general line
        of
        business as presently conducted by it and (iv) comply with all applicable
        laws and regulations of any federal, state or local governmental authority,
        except for such laws and regulations the violations of which would not, in
        the
        aggregate, have a Material Adverse Effect on Company.

      

      SECTION
        4.2 Notice
        to Trustee and Holders. 

      

      (a) As
        soon
        as possible, and in any event within five (5) days after Company learns of
        it,
        Company will give written notice to Trustee and Holders of (i) any
        proceeding instituted or threatened to be instituted by or against Company
        in
        any federal, state, local or foreign court or before any commission or other
        regulatory body (federal, state, local or foreign) which, in the opinion
        of
        management, could have a Material Adverse Effect on Company, (ii) the
        occurrence of any Material Adverse Change with respect to Company and
        (iii) the occurrence of any Event of Default or event or condition
        which,
        with notice or lapse of time or both, would constitute an Event of Default,
        together with a statement of the action which Company has taken or proposes
        to
        take with respect thereto.

      

      
        
           

        

        
          4

          
            

          

        

        
           

        

      

      (b) Company
        further covenants to provide all notices required by the Indenture and the
        Notes.

      

      SECTION
        4.3 Maintenance
        of Books and Records. Company
        will maintain books and records pertaining to the Collateral in such detail,
        form and scope as Trustee shall
        require in Trustee’s commercially reasonable judgment. Company agrees that
        Trustee or Trustee’s agents, prior to an event of default and upon five (5) days
        notice, may enter upon Company’s premises at any time and from time to time
        during normal business hours, and at any time on and after the occurrence
        of
        an Event
        of
        Default, for the purpose of inspecting the Collateral and any and all records
        pertaining thereto.

      

      SECTION
        4.4 Insurance.
        Company will
        maintain insurance on the Collateral under such policies of insurance, with
        such
        insurance companies, in such amounts and covering such risks as are at all
        times
        satisfactory to Trustee. All such policies shall be made payable to Trustee,
        for
        the benefit of Holders, in case of loss, under a standard non-contributory
        “lender” or “secured party” clause and are to contain such other provisions as
        Trustee may reasonably require to protect Holders’ interests in the Collateral
        and to any payments to be made under such policies. True copies of all original
        insurance policies are to be delivered to Trustee, premium prepaid, with
        the
        loss payable endorsement in favor of Trustee, for the benefit of Holders,
        and
        shall provide for not less than thirty (30) days’ prior written notice to
        Trustee and Holders of any alteration or cancellation of coverage. If Company
        fails to maintain such insurance, Trustee may arrange for (at Company’s expense
        and without any responsibility on Trustee’s or Holders’ part for) obtaining the
        insurance. Upon an Event of Default and during the continuation thereof,
        and
        unless Trustee shall otherwise agree with Company in writing, Trustee shall,
        after giving prior written notice to Company and Wachovia, have the sole
        right,
        in the name of Holders or Company, to file claims under any insurance policies,
        to receive and give acquittance for any payments that may be payable thereunder,
        and to execute any endorsements, receipts, releases, assignments, reassignments
        or other documents that may be necessary to effect the collection, compromise
        or
        settlement of any claims under any such insurance policies. 

      

      SECTION
        4.5 Taxes.
        Company
        will pay, when due, all taxes, assessments, claims and other charges (the
        “Taxes”)
        lawfully levied or assessed against
        Company or the Collateral other than Taxes that are being diligently contested
        in good faith by Company by appropriate proceedings promptly instituted and
        for
        which an adequate reserve is being maintained by Company in accordance with
        GAAP. If any Taxes remain
        unpaid after the date fixed for the payment thereof, or if any lien shall
        be
        claimed therefor, then, without notice to Company, and on Company’s behalf,
        Trustee may pay such Taxes, and the amount thereof shall be added to the
        Obligations.

      

      SECTION
        4.6 Company
        to Defend Collateral Against Claims; Fees on Collateral.  Company
        will defend the Collateral against all claims and demands of all Persons
        at any
        time claiming the same or any interest therein. Company will not permit any
        notice creating or otherwise relating to liens on the Collateral or any portion
        thereof to exist or be on file in any public office. Company shall promptly
        pay,
        when due, all transportation, storage and warehousing charges and license
        fees,
        registration fees, assessments, charges, permit fees and taxes (municipal,
        state
        and federal) which may now or hereafter be imposed upon the ownership, leasing,
        renting, possession, sale or use of
        the
        Collateral, excluding, however, all taxes on or measured by Holders’
        income.

      

      
        
           

        

        
          5

          
            

          

        

        
           

        

      

      SECTION
        4.7 No Change
        of Location, Structure or Identity. Company
        will not (i) change the location of Streicher’s principal place of business
        or (ii) establish any place of business other than those set forth on
Schedule
        C
        hereto or
        (iii) change the base location or permit the movement of any Collateral
        from the locations specified in Schedule B
        hereto
        (other than the movement of Vehicles and Equipment in the ordinary course
        of
        business), unless Company has delivered to Trustee (A) prior written
        notice
        thereof and (B) duly executed financing statements and other agreements
        and instruments
        (all in form and substance satisfactory to Trustee) necessary or, in the
        opinion
        of Trustee, desirable to perfect and maintain in favor of Holders a first
        priority security
        interest in the Collateral. Notwithstanding anything to the contrary in the
        immediately preceding sentence, Company may keep any Vehicle or item of
        Equipment at any location in the United States provided that such Vehicle
        or
        item of Equipment is covered by a certificate of title law in any state and
        Holders’ security interest in any such Collateral is conspicuously marked on the
        certificate of title thereof and Company has complied with the provisions
        of
Section 4.9
        hereof.

      

      SECTION
        4.8 Use
        of Collateral; Licenses. The
        Collateral shall be operated and maintained by competent, qualified personnel
        in
        connection with Company’s business purposes, for the purpose for
        which the
        Collateral was designed and in accordance with applicable operating
        instructions, laws and government regulations, and Company shall use every
        reasonable precaution to prevent loss or damage to the Collateral from
        accidents, fire and other hazards. The Collateral shall not be used or operated
        for personal, family or household purposes. Company shall procure and maintain
        in effect all orders, licenses, certificates, permits, approvals and consents
        required by federal, state or local laws or by any governmental body, agency
        or
        authority in connection with the delivery, installation, use and operation
        of
        the Collateral.

      

      SECTION
        4.9 Further
        Assurances.
        Company
        will, promptly upon request by Trustee, execute and deliver, or use its best
        efforts to obtain, any document reasonably required by Trustee (including,
        without limitation, warehouseman or processor disclaimers, mortgagee waivers,
        landlord disclaimers, or subordination agreements with respect to the
        Obligations and the Collateral), give any notices, execute and file any
        financing statements, mortgages or other documents (all in form and substance
        satisfactory to
        Trustee), mark any chattel paper, deliver any chattel paper or instruments
        to
        Trustee, and take any other actions that are necessary or, in the opinion
        of
        Trustee, desirable to perfect or continue the perfection and the first priority
        of Holders’ security interest in the Collateral, to protect the Collateral
        against the rights, claims, or interests of any Persons, or to effect the
        purposes of this Security Agreement. As long as amounts remain due to Holders
        from Company under the Loan Documents, Company hereby authorizes Trustee
        or
        Holders to file one or more financing or continuation statements, and amendments
        thereto, relating to all or any part of the Collateral without the signature
        of
        Company where permitted by law. A copy of this Security Agreement or any
        financing statement covering the Collateral or any part thereof shall be
        sufficient as a financing statement where permitted by law. To the extent
        required under this Security Agreement, Company
        will pay all reasonable costs incurred in connection with any of the foregoing.
        Trustee will provide Company and Wachovia with prior written notice of any
        actions proposed to be taken by Trustee as provided hereinabove.

      

      
        
           

        

        
          6

          
            

          

        

        
           

        

      

      SECTION
        4.10 No
        Disposition of Collateral. Without
        the prior written approval of Trustee,
        Company
        will not in any way hypothecate or create or permit to exist any lien, security
        interest, charge or encumbrance on or
        other
        interest in any of the Collateral, except for the lien and security interest
        granted hereby. Company will not sell, transfer, assign, pledge, collaterally
        assign, exchange or otherwise dispose of any of the Collateral without the
        prior
        written consent of Trustee, provided, however that no such consent shall
        be
        required for the routine sale or other disposition of obsolete or worn out
        Equipment so long as (i) any proceeds therefrom are paid to Trustee for the
        benefit of Holders and (ii) not more than $200,000 in Equipment, based on
        fair
        market value, is sold or disposed of without Trustee’s consent in any fiscal
        year of Streicher. In the event the Collateral, or any part thereof, is sold,
        transferred, assigned, exchanged, or otherwise disposed of, irrespective
        of
        whether it is approved by the Trustee, the security interest of Holders shall
        continue in such Collateral or part thereof notwithstanding such sale, transfer,
        assignment, exchange or other disposition, and Company will hold the proceeds
        thereof in a separate account for the benefit of Holders. Following such
        a sale,
        Company will transfer such proceeds to Trustee, for the benefit of Holders,
        in
        kind, which shall effect a release of the security interest of Holders in
        such
        Collateral, including any security interest in future additions, parts,
        accessories, attachments, substitutions, repairs and improvements or
        replacements to or of such Collateral. 

      

      SECTION
        4.11 No
        Limitation on Holders’ Rights. Company
        will not enter into any contractual obligations which may restrict or inhibit
        Trustee’s or Holders’ rights or ability to sell or otherwise dispose of the
        Collateral or any part thereof.

      

      SECTION
        4.12 Protection
        of Collateral. Upon
        three (3) Business Days’ notice to Company (except after an Event of Default),
        Trustee shall have the right at any time to make any payments and do any
        other
        acts Trustee may deem necessary to protect Holders’ security interest in the
        Collateral, including, without limitation, the rights to satisfy, purchase,
        contest or compromise any encumbrance, charge or lien which, in the reasonable
        judgment of Trustee, appears to be prior to or superior to the security
        interests granted hereunder, and appear in and defend any action or proceeding
        purporting to affect its security interests in, or the value of, any of the
        Collateral. Company hereby agrees to reimburse Holders for all reasonable
        payments made and expenses incurred under this Security Agreement, including
        fees, expenses and disbursements of attorneys and paralegals (including the
        allocated costs of
        in-house counsel) acting for Holders, including any of the foregoing payments
        under, or acts taken to
        protect its security interests in, any of the Collateral, which amounts shall
        be
        secured under this Security Agreement, and agrees it shall be bound by any
        payment made or act taken by Trustee or Holders hereunder absent Trustee’s gross
        negligence or willful misconduct. Holders shall have no obligation to make
        any
        of the foregoing payments or perform any of the foregoing acts.

      

      SECTION
        4.13 Delivery
        of Items.
        Company
        will promptly (but in no event later than three (3) Business Days) after
        their
        receipt thereof, deliver to Trustee any documents or certificates of title
        issued with respect to any property included in the Collateral, and any
        promissory notes, letters of credit or instruments related to or otherwise
        in
        connection with any property included in the Collateral, which in any such
        case
        come into the possession of Company, or shall cause the issuer thereof to
        deliver any of the same directly to Trustee, in each case with any necessary
        endorsements in favor of Trustee for the benefit of Holders.

      

      
        
           

        

        
          7

          
            

          

        

        
           

        

      

      SECTION
        4.14 Fundamental
        Changes. Without
        the prior written consent of Trustee, Company shall not merge or consolidate
        with any other Person (except for any merger or consolidation between Streicher
        and any of its wholly owned subsidiaries) or sell or otherwise dispose of
        all or
        substantially all of its assets.

      

      SECTION
        5. COVENANTS
        OF TRUSTEE.
        Trustee
        shall comply with the provisions of the Indenture, including, but not limited
        to, notice provisions required therein.

      

      SECTION
        6. FINANCIAL
        STATEMENTS.
        Until
        the
        payment and satisfaction in full of all Obligations, Company shall deliver
        to
        Trustee and to Holders the following financial information: 

      

      SECTION
        6.1 Annual Financial
        Statements. As
        soon
        as available, but not later than one hundred twenty (120) days after the
        end of
        each fiscal year of Streicher and its consolidated subsidiaries, the
        consolidated balance sheet, income statement and statements of cash flows
        and
        shareholders equity for Streicher and its consolidated subsidiaries (the
        “Financial
        Statements”)
        for
        such year, reported on by independent certified public accountants;
        and

      

      SECTION
        6.2 Quarterly
        Financial Statements.
        As soon
        as available, but not later than sixty (60) days after the end of each of
        the
        first three (3) fiscal quarters in any fiscal year of Streicher and its
        consolidated subsidiaries, the Financial Statements for such fiscal quarter,
        together with a certification duly executed by a responsible officer of
        Streicher that such Financial Statements have been prepared in accordance
        with
        GAAP and are fairly stated in all material respects (subject to normal year-end
        audit adjustments).

      

      SECTION
        7. EVENTS
        OF DEFAULT.
        The
        occurrence of any of the following events shall constitute an Event of Default
        hereunder:

      

      (a) failure
        of Company to
        pay
        any of the Obligations when payable, whether at stated maturity, by
        acceleration, or otherwise;

      

      (b) failure
        of Company to perform, comply with or observe in any material respect any
        term,
        covenant or agreement applicable to it contained in any of the Loan
        Documents;

      

      (c) any
        representation or warranty made or deemed made by Company hereunder, under
        or in
        connection with the Financial Statements, under any other Loan Document as
        defined herein or under any other agreement between Company and Holders,
        or
        under any document, instrument or certificate executed by Company in favor
        of
        Holders, shall prove to have been false or incorrect in any material respect
        when made;

      

      (d) any
        material provision of any Loan Document as defined herein to which Company
        is a
        party shall for any reason cease to be valid and binding on Company, or Company
        shall so assert in writing;

      

      
        
           

        

        
          8

          
            

          

        

        
           

        

      

      (e) dissolution,
        liquidation, winding up or cessation of any of Company’s business, or the
        failure of Company to pay its debts as they mature; or the admission in writing
        by Company of its inability to pay its debts as they mature; or the calling
        of a
        meeting of Company’s creditors for purposes of compromising Company’s
        debts;

      

      (f) the
        commencement by or against Company of any bankruptcy, insolvency, arrangement,
        reorganization, receivership or similar proceedings under any federal or
        state
        law and, in the case of any such involuntary proceeding, such proceeding
        remains
        undismissed or unstayed for forty-five (45) days following the commencement
        thereof, or any action by Company is taken authorizing any such
        proceedings;

      

      (g) Company
        suffers or sustains a Material Adverse Change;

      

      (h) an
        assignment for the benefit of creditors is made by Company, whether voluntary
        or
        involuntary, or Company consents to the appointment of a trustee or receiver,
        or
        if a trustee or receiver is appointed for Company or for a substantial
        part of its property;

      

      (i) Company
        shall (i) default in the payment of principal of or interest on any
        indebtedness (other than the Obligations) beyond the period of grace, if
        any,
        provided in the instrument or agreement under which such indebtedness was
        created; or (ii) default in the observance or performance of any other
        agreement or condition relating to any such indebtedness or contained in
        any
        instrument or agreement relating thereto, or any other event shall occur
        or
        condition exist, the effect of which default or other event or condition
        is to
        cause, or to permit the holder or holders of such indebtedness to cause,
        with
        the giving of notice if required, such indebtedness to become due prior to
        its
        stated maturity;

      

      (j) any
        material federal tax lien is filed of record against Company and is not bonded
        or discharged within five (5) Business Days;

      

      (k) any
        material judgment shall be rendered against
        Company which shall not be stayed, vacated, bonded or discharged within sixty
        (60) days;

      

      (l) any
        material covenant, agreement or obligation of Company contained in or evidenced
        by any of the Loan Documents shall cease to be enforceable, or shall be
        determined to be unenforceable, in accordance with its terms; any of the
        Loan
        Parties shall deny or disaffirm its obligations under any of the Loan Documents
        or any liens granted in connection therewith; or any liens granted on any
        of the
        collateral shall be determined to be void, voidable or invalid, are subordinated
        or are not given the priority contemplated by this Security Agreement;
        or

      

      (m) this
        Security Agreement shall for any reason (other than pursuant to the terms
        hereof) cease to create a valid and perfected first priority lien on the
        Collateral purported to be covered hereby.

      

      
        
           

        

        
          9

          
            

          

        

        
           

        

      

      SECTION
        8. REMEDIES.
        If
        any
        Event of Default shall have occurred and be continuing:

      

      (a) Trustee,
        on behalf of Holders, may, without prejudice to any of Trustee’s or Holders’
        other rights under any Loan Document or applicable law, declare all Obligations
        to be immediately due and payable (except with respect to any Event of Default
        set forth in Section 7(f)
        hereof,
        in which case all Obligations shall automatically become immediately due
        and
        payable without necessity of any declaration) without presentment,
        representation, demand of payment or protest, which are hereby expressly
        waived;

      

      (b) Trustee,
        on behalf of Holders, may, after ten (10) Business Days prior written notice
        to
        Wachovia (unless (i) there are no amounts then owed to Wachovia under the
        Wachovia Agreement and (ii) the Wachovia Agreement has been terminated),
        take
        possession of the Collateral and, for that purpose, may enter, with the aid
        and
        assistance of any person or persons, any premises where the Collateral or
        any
        part hereof is, or may be placed, and remove the same;

      

      (c) the
        obligation of Trustee or Holders, if any, to give additional (or to continue)
        financial accommodations of any kind to Company shall immediately
        terminate;

      

      (d) Trustee,
        on behalf of Holders, may, after ten (10) Business Days prior written notice
        to
        Wachovia (unless (i) there are no amounts then owed to Wachovia under the
        Wachovia Agreement and (ii) the Wachovia Agreement has been terminated),
        exercise in respect of the Collateral, in addition to other rights and remedies
        provided for herein (or in any Loan Document) or otherwise available to it,
        all
        the rights and remedies of a secured party under the UCC whether or not the
        UCC
        applies to the affected Collateral and also may (i) require Company
        to, and
        Company hereby agrees that they will at their expense and upon request of
        Trustee or Holders forthwith, assemble all or part of the Collateral as directed
        by Holders and make it available to Trustee and Holders at a place to be
        designated by Holders that is reasonably convenient to both parties and
        (ii) without notice except as specified below, sell the Collateral
        or any
        part thereof in one or more parcels at public or private sale, at any of
        Trustee’s offices or elsewhere, for cash, on credit or for future delivery, and
        upon such other terms as Trustee, on behalf of Holders, may deem commercially
        reasonable. Trustee agrees to provide at least ten (10) days’ notice to Wachovia
        and Company of the time and place of any public sale or the time after which
        any
        private sale is to be made pursuant to or at any time following a foreclosure
        or
        repossession. Trustee or Holders shall not be obligated to make any sale
        of
        Collateral regardless of notice of sale having been given. Trustee or Holders
        may adjourn any public or private sale from time to time by announcement
        at the
        time and place fixed therefor, and such sale may, without further notice,
        be
        made at the time and place to which it was so adjourned; and

      

      (e) all
        cash
        proceeds received by Trustee or Holders in respect of any sale of, collection
        from, or other realization upon all or any part of the Collateral may, at
        the
        discretion of Trustee or Holders, be held by Trustee or Holders as collateral
        for, or then or at any time thereafter applied in whole or in part by Holders
        against, all or any part of the Obligations in such order as Trustee or Holders
        shall elect. Unless otherwise required by applicable law, as determined by
        a
        court of competent jurisdiction, any surplus of such cash or cash proceeds
        held
        by Trustee or Holders and remaining after the full and final payment of all
        the
        Obligations shall be paid over to Wachovia unless (i) there are no amounts
        then
        owed to Wachovia under the Wachovia Agreement and (ii) the Wachovia Agreement
        has been terminated, in which case such surplus will be paid over to Company.
        

      

      
        
           

        

        
          10

          
            

          

        

        
           

        

      

      SECTION
        9. MISCELLANEOUS
        PROVISIONS.

      

      SECTION
        9.1 Notices.
        Except
        as
        otherwise provided herein, all notices, approvals, consents, correspondence
        or
        other communications required or desired to be given hereunder shall be given
        in
        writing and shall be delivered by overnight courier, hand delivery or certified
        or registered mail, postage prepaid, (i) if to Trustee, to the address noted
        under Trustee’s name on the signature page attached hereto or to such other
        address as shall be designated by Trustee to Company in writing, (ii) if
        to
        Holder(s), to the address noted under each Holder’s name on the signature page
        attached to the Note Purchase Agreement or to such other address as shall
        be
        designated by Holder to Company in writing, and (iii) if to Company, to address
        of Streicher noted on the first page of this Security Agreement. All such
        notices and correspondence shall be effective when received.

      

      SECTION
        9.2 Headings.
        The headings
        in this Security Agreement are for purposes of reference only and shall not
        affect the meaning or construction of any provision of this Security
        Agreement.

      

      SECTION
        9.3 Assignments.
        Company
        shall not have the right to assign the Notes nor this Security Agreement
        or any
        interest therein. A Holder may assign its rights and delegate its obligations
        under the Notes or this Security Agreement.

      

      SECTION
        9.4 Amendments,
        Waivers and Consents. Any
        amendment or waiver of any provision of this Security Agreement and any consent
        to any departure by Company from any provision of this Security Agreement
        shall
        be effective only by a writing signed by the Trustee, provided,
        however,
        that
        Trustee shall not consent to any such amendment without the prior written
        consent of the holders of at least sixty-six and 2/3 percent (662/3%)
        of the
        principal amount of the Notes, and shall bind and benefit Company and Holders
        and their respective successors and assigns, subject, in the case of Company,
        to
        the first sentence of Section 8.3
        hereof.

      

      SECTION
        9.5 Interpretation
        of Agreement. Time
        is
        of the essence in each provision of this Security Agreement of which time
        is an
        element. To the extent a term or provision of this Security Agreement conflicts
        with the Notes and is not dealt with herein with more specificity, this Security
        Agreement shall control with respect to the subject matter of such term or
        provision. Acceptance of or acquiescence in a course of performance rendered
        under this Security Agreement shall not be relevant in determining the meaning
        of this Security Agreement even though the accepting or acquiescing
        party had
        knowledge of the nature of the performance and opportunity for
        objection.

      

      
        
           

        

        
          11

          
            

          

        

        
           

        

      

      SECTION
        9.6 Continuing
        Security Interest.
        This
        Security Agreement shall create a continuing security interest in the Collateral
        and shall (i) remain in full force and effect until the indefeasible
        payment in full of the Obligations, (ii) be binding upon Company and
        each
        of their successors and assigns and (iii) inure, together with the
        rights
        and remedies of Holders hereunder, to the benefit of Holders and its successors,
        transferees and assigns.

      

      SECTION
        9.7 Reinstatement.
        To the
        extent permitted by law, this Security Agreement and the rights and powers
        granted to Trustee and Holders hereunder and under the other Loan Documents
        shall continue to be effective or be reinstated if at any time any amount
        received by Holders in respect of the Obligations is rescinded or must otherwise
        be restored or returned by Trustee or Holders upon the insolvency, bankruptcy,
        dissolution, liquidation or reorganization of either Company or upon the
        appointment of any receiver, intervenor, conservator, trustee or similar
        official for either Company or any substantial part of its assets, or otherwise,
        all as though such payments had not been made.

      

      SECTION
        9.8 Survival
        of Provisions. All
        representations, warranties and covenants of Company contained herein shall
        survive the execution and delivery of this Security Agreement, and shall
        terminate only upon the full and final payment and performance by Company
        of the
        Obligations secured hereby.

      

      SECTION
        9.9 Indemnification.
        Company
        agrees to indemnify and hold harmless Trustee, Holders and their respective
        directors, officers, agents, employees and counsel from and against any and
        all
        costs, expenses, claims, or liability incurred by Holders or such Person
        hereunder and under any other Loan Document or in connection herewith or
        therewith, unless such claim or liability shall be due to willful misconduct
        or
        gross negligence on the part of Holders or such Person.

      

      SECTION
        9.10 Governing
        Law.
        THE
        VALIDITY, INTERPRETATION AND ENFORCEMENT OF THIS SECURITY AGREEMENT SHALL
        BE
        GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF TEXAS
        WITHOUT GIVING EFFECT TO THE CONFLICT OF LAW PRINCIPLES THEREOF.

      

      SECTION
        9.11 Venue;
        Service of Process.
        ANY
        LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS SECURITY AGREEMENT OR ANY
        OTHER
        LOAN DOCUMENT MAY BE BROUGHT IN THE COURTS OF THE STATE OF FLORIDA SITUATED
        IN
        BROWARD COUNTY, OR OF THE UNITED STATES OF AMERICA FOR THE SOUTHERN DISTRICT
        OF
        FLORIDA AND, BY EXECUTION AND DELIVERY OF THIS SECURITY AGREEMENT, THE COMPANY
        HEREBY ACCEPTS FOR ITSELF AND IN RESPECT OF ITS PROPERTY, GENERALLY AND
        UNCONDITIONALLY, THE JURISDICTION OF THE AFORESAID COURTS. THE COMPANY
        HEREBY IRREVOCABLY
        WAIVES, IN CONNECTION WITH ANY SUCH ACTION OR PROCEEDING, (A) ANY
        OBJECTION, INCLUDING, WITHOUT LIMITATION, ANY OBJECTION TO THE LAYING OF
        VENUE
        OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS, THAT IT MAY NOW OR HEREAFTER
        HAVE TO THE BRINGING OF ANY SUCH ACTION OR PROCEEDING IN SUCH RESPECTIVE
        JURISDICTIONS AND (B) THE RIGHT TO INTERPOSE ANY NONCOMPULSORY SETOFF,
        COUNTERCLAIM OR CROSS-CLAIM. THE
        COMPANY IRREVOCABLY CONSENTS TO THE SERVICE OF PROCESS OF ANY OF THE
        AFOREMENTIONED COURTS IN ANY SUCH ACTION OR PROCEEDING BY THE MAILING OF
        COPIES
        THEREOF BY REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID, TO THE COMPANY
        AT THE
        ADDRESS FOR IT SPECIFIED IN SECTION
        9.1
        HEREOF.
        NOTHING HEREIN SHALL AFFECT THE RIGHT OF TRUSTEE OR HOLDERS TO SERVE PROCESS
        IN
        ANY OTHER MANNER PERMITTED
        BY
        LAW OR
        TO COMMENCE LEGAL PROCEEDINGS OR OTHERWISE PROCEED AGAINST THE COMPANY IN
        ANY
        OTHER JURISDICTION, SUBJECT IN EACH INSTANCE TO THE PROVISIONS HEREOF WITH
        RESPECT TO RIGHTS AND REMEDIES.

      

      
        
           

        

        
          12

          
            

          

        

        
           

        

      

      SECTION
        9.12 Delays;
        Partial
        Exercise of Remedies.
        No delay
        or omission of Trustee or Holders to exercise any right or remedy hereunder,
        whether before or after the happening of any Event of Default, shall impair
        any
        such right or shall operate as a waiver thereof or as a waiver of any such
        Event
        of Default. No single or partial exercise by Trustee or Holders of any right
        or
        remedy shall preclude any other or further exercise thereof, or preclude
        any
        other right or remedy.

      

      SECTION
        9.13 Waiver
        of Jury Trial. THE
        COMPANY, TRUSTEE AND HOLDERS IRREVOCABLY WAIVE ALL RIGHT TO TRIAL BY JURY
        IN ANY
        ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS SECURITY
        AGREEMENT, ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED BY THOSE
        AGREEMENTS.

      

      SECTION
        9.14 Entire
        Agreement.
        Company,
        Trustee and Holders agree that this Security Agreement and the exhibits hereto
        are the complete and exclusive statement and agreement between the parties
        with
        respect to the subject matter hereof, superseding all proposals and prior
        agreements, oral or written, and all other communications between the parties
        with respect to the subject matter hereof.

      

      SECTION
        9.15 Counterparts;
        Facsimile.
        This
        Security Agreement may be executed in two or more counterparts, each of which
        shall be deemed to be an original but all of which taken together shall
        constitute one agreement. Signatures to this Security Agreement may be
        transmitted by facsimile and such transmission shall be deemed to be an
        original.

      

      
        
           

        

        
          13

          
            

          

        

        
           

        

      

      IN
        WITNESS WHEREOF,
        the
        parties hereto have caused this Security Agreement to be duly executed and
        delivered by their proper and duly authorized officers as of the date first
        set
        forth above.

      

      
        	 	
                Streicher
                  Mobile Fueling, Inc. 

                

                By:
                  ______________________________

                Richard
                  E. Gathright

                President
                  and Chief Executive Officer

                

                FED
                  ID NO. 65-0707824                                  
                   

                

                

                

                [Subsidiary] 

                

                By:
                  ______________________________

                Richard
                  E. Gathright

                President
                  and Chief Executive Officer

                

                FED
                  ID NO. ________________________

                

                

                

                [_______________________]

                

                

                By:
                  ______________________________

                Name:

                Title:

                

                

                By:
                  ______________________________

                Name:

                Title:

                

                

                FED
                  ID NO. ________________________

              

      

      
        

      
        
           

        

        
          14

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