Omega Protein (OME)

ACCELERATION; FORECLOSURE

Section 4.01. Acceleration of Secured Obligations. During the existence of an Event of Default, the Lender may declare the entire balance of all or any portion of the Secured Obligations, including all accrued interest to be immediately due and payable, as provided in the Loan Agreement.

Section 4.02. Foreclosure.

(a) During the existence of an Event of Default and otherwise in compliance with Section 8.02 of the Loan Agreement, the Lender may foreclose or cause the Trustee to foreclose the Lien of this Deed of Trust by judicial or nonjudicial proceeding in a manner permitted by applicable law. The Grantor acknowledges that the power of sale herein granted may be exercised by the Lender without prior judicial hearing. The Grantor hereby waives any statutory right of redemption in connection with such foreclosure proceeding.

(b) If the Lender invokes the power of sale, the Trustee shall send to the Grantor, in the manner provided herein, notice of the Lender’s election to cause the Premises to be sold. The Trustee shall give notice of sale and shall sell the Premises according to the laws of the State of Mississippi. The Trustee may sell the Premises at the time and place and under the terms designated in the notice of sale in one or more parcels and in such order as the Trustee may determine. The Trustee may postpone sale of all or any parcel of the Premises by public announcement at the time and place of any previously scheduled sale. The Lender or the Lender’s designee may purchase the Premises at any sale.

(c) The Trustee shall deliver to the purchaser a Trustee’s deed conveying the Premises so sold without any covenant or warranty, expressed or implied. The recitals in the Trustee’s deed shall be prima facie evidence of the truth of statements made therein.

(d) The Grantor waives the provisions of Section 89-1-55 of the Mississippi Code of 1972, as amended, if amended, as far as this section restricts the right of the Trustee to offer at sale more than 160 acres at a time, and the Trustee may offer the Premises herein conveyed as a whole, regardless of how it is described.

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Section 4.03. Proceeds of Sale. Following a foreclosure sale, the proceeds of such sale shall, subject to applicable law, be applied in accordance with Section 8.03 of the Loan Agreement.

Section 4.04. Delivery of Possession After Foreclosure. In the event there is a foreclosure sale hereunder and at the time of such sale, the Grantor or the Grantor’s heirs, devisees, representatives, successors or assigns are occupying or using the Premises, or any part thereof, each and all immediately shall become the tenant of the purchaser at such sale, which tenancy shall be a tenancy from day to day, terminable at the will of either landlord or tenant, at a reasonable rental per day based upon the value of the property occupied, such rental to be due daily to the purchaser; and to the extent permitted by applicable law, the purchaser at such sale, notwithstanding any language herein apparently to the contrary, shall have the sole option to demand possession immediately following the sale or to permit the occupants to remain as tenants at will. In the event the tenant fails to surrender possession of said property upon demand, the purchaser shall be entitled to institute and maintain a summary action for possession of the property (such as an action for forcible detainer) in any court having jurisdiction.

ACCELERATION; FORECLOSURE

Section 4.01. Acceleration of Secured Obligations. During the existence of an Event of Default, the Lender may declare the entire balance of all or any portion of the Secured Obligations, including all accrued interest to be immediately due and payable, as provided in the Loan Agreement.

Section 4.02. Foreclosure.

(a) During the existence of an Event of Default and otherwise in compliance with Section 8.02 of the Loan Agreement, the Lender may foreclose or cause the Trustee to foreclose the Lien of this Deed of Trust by judicial process or pursuant to power of sale in accordance with Sections 55-59 to 55-59.4 of the Code of Virginia, and may pursue any other remedies permitted by applicable law or provided herein or any of the other Loan Documents. The Grantor hereby waives any statutory right of redemption in connection with such foreclosure proceeding. The Grantor acknowledges that the power of sale herein granted may be exercised by the Lender without prior judicial hearing. The Grantor has the right to bring an action to assert the non-existence of a breach or any other defense of Grantor to acceleration and sale. The Lender shall be entitled to collect all costs and expenses incurred in pursuing such remedies, including, but not limited to, reasonable attorney’s fees and costs of documentary evidence, abstracts and title reports.

(b) If the Lender invokes the power of sale, the Lender or the Trustee shall give to the Grantor a copy of a notice of sale in the manner prescribed by applicable law. The Trustee shall give public notice of sale for three (3) consecutive days in a newspaper published or having a general circulation in the County or City in which the Premises is located and in the manner prescribed by applicable law and shall sell the Premises in accordance with the laws of Virginia. The Trustee, without demand on the Grantor, shall sell the Premises at public auction to the highest bidder at the time and place and under the terms designated in the notice of sale in one or more parcels and in such order as the Trustee may determine. The Trustee may postpone sale of all or any parcel of the Premises by public announcement at the time and place of any previously scheduled sale or by advertising in accordance with applicable law. The Lender or the Lender’s designee may purchase the Premises at any sale.

(c) The Trustee shall deliver to the purchaser a Trustee’s deed conveying the Premises so sold with special warranty of title. The recitals in the Trustee’s deed shall be prima facie evidence of the truth of the statements made therein. The Trustee shall apply the proceeds of the sale accordance with Section 4.03 hereof. The Trustee shall not be required to take possession of the Premises prior to the sale thereof or to deliver possession of the Premises to the purchaser at such sale.

Section 4.03. Proceeds of Sale. Following a foreclosure sale, the proceeds of such sale shall, subject to applicable law, be applied in accordance with Section 8.03 of the Loan Agreement.

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Section 4.04. Delivery of Possession After Foreclosure. In the event there is a foreclosure sale hereunder and at the time of such sale, the Grantor or the Grantor’s heirs, devisees, representatives, successors or assigns are occupying or using the Premises, or any part thereof, each and all immediately shall become the tenant of the purchaser at such sale, which tenancy shall be a tenancy from day to day, terminable at the will of either landlord or tenant, at a reasonable rental per day based upon the value of the property occupied, such rental to be due daily to the purchaser; and to the extent permitted by applicable law, the purchaser at such sale, notwithstanding any language herein apparently to the contrary, shall have the sole option to demand possession immediately following the sale or to permit the occupants to remain as tenants at will. In the event the tenant fails to surrender possession of said property upon demand, the purchaser shall be entitled to institute and maintain a summary action for possession of the property (such as an action for forcible detainer) in any court having jurisdiction.

ACCELERATION; FORECLOSURE

Section 4.01. Acceleration of Secured Obligations. During the existence of an Event of Default, the Lender may declare the entire balance of all or any portion of the Secured Obligations, including all accrued interest to be immediately due and payable, as provided in the Loan Agreement.

Section 4.02. Foreclosure. During the existence of an Event of Default and otherwise in compliance with Section 8.02 of the Loan Agreement, the Lender may foreclose the Lien of this Mortgage by judicial or nonjudicial proceeding in a manner permitted by applicable law. The Mortgagor hereby waives any statutory right of redemption in connection with such foreclosure proceeding.

Section 4.03. Proceeds of Sale. Following a foreclosure sale, the proceeds of such sale shall, subject to applicable law, be applied in accordance with Section 8.03 of the Loan Agreement.

Section 4.04. Delivery of Possession After Foreclosure. In the event there is a foreclosure sale hereunder and at the time of such sale, the Mortgagor or the Mortgagor’s heirs, devisees, representatives, successors or assigns are occupying or using the Premises, or any part thereof, each and all immediately shall become the tenant of the purchaser at such sale, which tenancy shall be a tenancy from day to day, terminable at the will of either landlord or tenant, at a reasonable rental per day based upon the value of the property occupied, such rental to be due

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daily to the purchaser; and to the extent permitted by applicable law, the purchaser at such sale, notwithstanding any language herein apparently to the contrary, shall have the sole option to demand possession immediately following the sale or to permit the occupants to remain as tenants at will. In the event the tenant fails to surrender possession of said property upon demand, the purchaser shall be entitled to institute and maintain a summary action for possession of the property (such as an action for forcible detainer) in any court having jurisdiction.

ACCELERATION; FORECLOSURE

Section 4.01. Acceleration of Secured Obligations. During the existence of an Event of Default, the Lender may declare the entire balance of all or any portion of the Secured Obligations, including all accrued interest to be immediately due and payable, as provided in the Loan Agreement.

Section 4.02. Foreclosure. During the existence of an Event of Default and otherwise in compliance with Section 8.02 of the Loan Agreement, the Lender may foreclose or cause the Trustee to foreclose the Lien of this Deed of Trust by judicial or nonjudicial proceeding in a manner permitted by applicable law. The Grantor hereby waives any statutory right of redemption in connection with such foreclosure proceeding.

Section 4.03. Proceeds of Sale. Following a foreclosure sale, the proceeds of such sale shall, subject to applicable law, be applied in accordance with Section 8.03 of the Loan Agreement.

Section 4.04. Delivery of Possession After Foreclosure. In the event there is a foreclosure sale hereunder and at the time of such sale, the Grantor or the Grantor’s heirs, devisees, representatives, successors or assigns are occupying or using the Premises, or any part thereof, each and all immediately shall become the tenant of the purchaser at such sale, which tenancy shall be a tenancy from day to day, terminable at the will of either landlord or tenant, at a reasonable rental per day based upon the value of the property occupied, such rental to be due daily to the purchaser; and to the extent permitted by applicable law, the purchaser at such sale, notwithstanding any language herein apparently to the contrary, shall have the sole option to demand possession immediately following the sale or to permit the occupants to remain as tenants at will. In the event the tenant fails to surrender possession of said property upon demand, the purchaser shall be entitled to institute and maintain a summary action for possession of the property (such as an action for forcible detainer) in any court having jurisdiction.

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