ZIONS FIRST NATIONAL BANK
SECURITY NATIONAL LIFE INSURANCE COMPANY
Effective Date: June 12, 2007
This Loan Agreement is made and entered into by and between Zions First National Bank and Security National
Life Insurance Company as of June 12, 2007 (the "Effective Date").
For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties
agree as follows:
Terms defined in the singular shall have the same meaning when used in the plural and vice versa. As used herein,
"Acknowledgment" means a written statement, substantially in the form attached hereto as Exhibit B, executed by
the maker of an Underlying Note acknowledging that Borrower has collaterally assigned the Underlying Note as
payable to the order of Lender and has further collaterally assigned to Lender all rights as beneficiary under the
Underlying Deed of Trust securing the Underlying Note together with all right, title and interest of Borrower in
and to all other documents, instruments and agreements executed and delivered by the maker of the Underlying
Note. In the alternative, Borrower may insert into any Underlying Notes language wherein the Maker
acknowledges that the Note is assignable, such as "borrower acknowledges that lender has the right to assign an
interest in this note to another lender."
"Banking Business Day" means any day not a Saturday, Sunday, legal holiday in the State of Utah, or day on
which national banks in the State of Utah are authorized to close.
"Borrower" means Security National Life Insurance Company, including each of its successors, and, if permitted,
"Borrowing Base" means the aggregate of the following:
(a) for Eligible Notes that are Underlying Notes encumbered by Underlying Property that is Commercial
Property, the lesser of seventy-five percent (75%) of the face amount of such Eligible Notes or sixty percent