BENNETT MANAGEMENT & DEVELOPMENT CORPORATIONConstruction Loan Agreement • January 25th, 1999 • Breeden Richard C • Services-miscellaneous amusement & recreation
RE: Credit in the principal amount of $10,200,000 extended by Bennett Management & Development Corp. (the "Loan") pursuant to a certain June 27, 1994 Construction Loan Agreement by and among Bennett Management & Development Corp., Lender, Mountaineer Park, Inc., Borrower, and Winners Entertainment, Inc., Winners, as amended
November 9, 1995 Mr. Kevin J. Kuppel Treasurer Bennett Management & Development Corp. Two Clinton Square Syracuse, NY 13202 Re: Construction Loan Agreement between Bennett Management & Development Corp., Mountaineer Park, Inc. and Winner's...Construction Loan Agreement • January 25th, 1999 • Breeden Richard C • Services-miscellaneous amusement & recreation
This letter sets forth the agreement between Bennett Management & Development Corp., Mountaineer Park, Inc. and Winner's Entertainment, Inc. that if: (a) the Loan from Bennett Management & Development Corp. to Mountaineer Park, Inc. in the principal amount of $10.2 million is paid in full by December 1, 1995, and (b) Mountaineer Park, Inc. and Winner's Entertainment, Inc. deliver to Bennett Management & Development Corp. a broad form general release of all liability arising out of or related to the Loan, Bennett Management & Development Corp. will transfer to Winner's Entertainment, Inc. all of its current and future rights to any shareholder interest in Winner's Entertainment, Inc. at no additional cost to Winner's Entertainment, Inc., and a duly executed release of the deed of trust.
