Bridge Loan Note
Lender: Albert Fried & Company, LLC New York, New York Principal Amount: $3,500,000 December 22,
For Value Received, the undersigned, GENEVA STEEL COMPANY, a Utah corporation (the "Borrower"),
hereby promises to pay to the order of the Lender set forth above (the "Lender") the Principal Amount set forth
above, or, if less, the aggregate unpaid principal amount of the Bridge Loan (as defined in the Bridge Loan
commitment letter between Lender and Borrower dated as of December 13, 2000 (the "Commitment Letter")) of
the Lender to the Borrower, payable at such times, and in such amounts, as are specified in the Commitment
The Borrower promises to pay interest on the unpaid principal amount of such Bridge Loan from the date made
until such principal amount is paid in full, at such interest rates, and payable at such times, as are specified in the
Both principal and interest are payable in Dollars to Lender in immediately available funds.
The Commitment Letter, among other things, provides for the making of a Bridge Loan to the Borrower in an
aggregate amount not to exceed at any time outstanding the Principal Amount set forth above, the indebtedness
of the Borrower being evidenced by this Note.
Demand, diligence, presentment, protest and notice of non-payment and protest are hereby waived by the
This Note shall be governed by, and construed and interpreted in accordance with, the laws of the State of New
In witness hereof, Borrower agrees to the foregoing as of this 22nd day of December 2000.
By: /s/ Ken C. Johnsen
Ken C. Johnsen
Executive Vice President