UNCONDITIONAL GUARANTYUnconditional Guaranty • December 21st, 2012 • Lakes Entertainment Inc • Services-miscellaneous amusement & recreation • Arkansas
LAKES ENTERTAINMENT, INC. (the “Guarantor”), hereby requests and authorizes CENTENNIAL BANK (“Lender”) to extend credit to EVITTS RESORT, LLC (“Borrower”), an affiliate of the Guarantor, pursuant to the terms and conditions of that certain Secured Construction Loan Agreement between Borrower and Lender dated as of even date herewith (as the same may hereafter be amended or otherwise modified from time to time, the “Secured Construction Loan Agreement”).
SECURED CONSTRUCTION LOAN AGREEMENTSecured Construction Loan Agreement • December 21st, 2012 • Lakes Entertainment Inc • Services-miscellaneous amusement & recreation • Arkansas
ContractLeasehold Mortgage, Security Agreement and Assignment of Rents • December 21st, 2012 • Lakes Entertainment Inc • Services-miscellaneous amusement & recreation • Maryland
SECURED CONSTRUCTION PROMISSORY NOTESecured Construction Promissory Note • December 21st, 2012 • Lakes Entertainment Inc • Services-miscellaneous amusement & recreation • Arkansas
FOR VALUE RECEIVED, EVITTS RESORT, LLC (the “Borrower”), hereby covenants and promises to pay to the order of CENTENNIAL BANK (“Lender”), or its successors or assigns, at Lender’s office at 620 Chestnut Street, Conway, Arkansas, 72032, or at such other place as the Lender may designate to the Borrower in writing from time to time, in legal tender of the United States, the sum of SEVENTEEN MILLION, FIVE HUNDRED THOUSAND AND NO/100 Dollars ($17,500,000.00) or such lesser sum as shall have been advanced hereunder pursuant to the Secured Construction Loan Agreement referred to below, along with interest at the Interest Rate as provided herein. The credit relationship evidenced hereby shall be non-revolving in nature.
MORTGAGE, SECURITY AGREEMENT AND ASSIGNMENT OF RENTS (Secures Obligatory Future Advances)Mortgage, Security Agreement and Assignment of Rents • December 21st, 2012 • Lakes Entertainment Inc • Services-miscellaneous amusement & recreation • Arkansas
This MORTGAGE, SECURITY AGREEMENT AND ASSIGNMENT OF RENTS (the "Mortgage") is dated as of the 17th day of December, 2012, and is executed and entered into by LAKES ENTERTAINEMENT, INC., with an address of 130 Cheshire Lane, Minnetonka, Minnesota 55305 (the "Mortgagor"), in favor of CENTENNIAL BANK, with an address of 620 Chestnut Street, Conway, Arkansas 72032, or its successors or assigns ("Lender").
