exhibit 10. 3 [ north carolina ] ( collateral is or includes fixtures ) deed of trust, security agreement and assignment of leases and rents this deed of trust, security agreement and assignment of leases and rents dated as of april 29, 2003 is made by the color works, inc., a north carolina corporation ( “ grantor ” ), whose address is c / o bush industries, inc., mason drive industrial park, p. o. box 460, jamestown, new york 14702, to c. patrick crosby, jr., esq., a north carolina resident, ( “ trustee ” ) whose address is c / o kilpatrick stockton llp, 1001 west fourth street, winston - salem, nc 27101 - 2400, for the use and benefit of jpmorgan chase bank, a new york banking corporation, as administrative agent for the lenders referred to below ( in such capacity, “ beneficiary ” ), whose address is 270 park avenue, new york, new york 10017. references to this “ deed of trust ” shall mean this instrument and any and all renewals, modifications, amendments, supplements, restatements, extensions, consolidations, substitutions, spreaders and replacements of this instrument. background a. bush industries, inc. ( the “ company ” ) has entered into that certain credit and guarantee agreement, dated as of june 26, 1997 ( as the same may be amended, supplemented, restated or otherwise modified from time to time, the “ credit agreement ” ) among the company, each foreign subsidiary borrower ( as defined in the credit agreement ) ( together with the company, the “ borrowers ” ), the several banks and other financial institutions from time to time parties thereto ( the “ lenders ” ) and beneficiary, as amended by a first amendment, dated as of august 17, 1998, among the borrowers, the lenders and beneficiary, a second amendment, dated as of december 31, 1998, among the borrowers, the lenders and the beneficiary, a third amendment and consent, dated as of march 31, 1999, among the borrowers, the lenders and beneficiary, a fourth amendment, dated as of february 29, 2000, among the borrowers, the lenders and beneficiary, a fifth amendment, dated as of may 2, 2000, among the borrowers, the lenders