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as set forth in and evidenced by a Loan Agreement between the <br /> City and Omega , of even date with the Bonds (the "Loan Agreement") <br /> and a Trust Indenture between the City and Mercantile Bank, <br /> Jonesboro , Arkansas (the "Trustee") , of even date with the Bonds <br /> (the "Trust Indenture") . <br /> 3 . Grant of Security Interest . In consideration of the <br /> Loan described above , Omega hereby grants to the City a security <br /> interest in the machinery, equipment and other personal property <br /> described in Exhibit A hereto and in all other machinery, equipment <br /> and personal property financed in whole or in part by application <br /> of the proceeds of the Loan, as security for the payment , performance <br /> and observance by Omega of all obligations and conditions of <br /> this agreement and of the Note . All such machinery, equipment <br /> and other personal property shall be identified in a ledger, <br /> one copy of which shall be filed with the City and one copy of <br /> which shall be maintained by Omega at the site of the collateral <br /> and shall be marked by an appropriate tag or other device . All <br /> such machinery, equipment and other personal property is referred <br /> to herein as the "collateral . " <br /> The security interest granted hereby is subject and subordinate <br /> to the rights of the trustee and the holders of the bonds under <br /> the Loan Agreement and the Indenture . <br /> The Loan described above is also secured by that certain <br /> Second Mortgage executed and delivered by Omega to the City of <br /> even date herewith (the "Mortgage") . <br /> 4 . Warranties and agreements. Omega warrants and agrees <br /> that : <br /> (a) Collateral location and use. Omega' s chief place of <br /> business , its financial books and records relating to the <br /> collateral , and the collateral , are located at the address set <br /> forth at the foot of this Agreement . Omega will not move any <br /> of the collateral from said location without the prior written <br /> consent of the City. The collateral was and/or will be acquired <br /> by the undersigned solely for use in its business at said location, <br /> and the collateral is not and shall not be used for personal , <br /> family , household, or farming use . <br /> -3- <br />